0001213900-26-114370 | 20-F | XBRL Viewer

34.00%

32.80%

Customer B [Member]

^[1]

23.00%

Customer C [Member]

^[1]

12.80%

Customer D [Member]

11.70%

^[1]

[1]	The percentage was below 10% for the period.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-20

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482836/275-10-55-18

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-20

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 954
-SubTopic 310
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478785/954-310-50-2

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

Prepayments and Other Current Assets [Abstract]

Restricted Net Assets and Parent Company Only Condensed Financial Information (Details) ¥ in Thousands	Jun. 30, 2026 CNY (¥)
Restricted Net Assets and Parent Company Only Condensed Financial Information [Abstract]
Annual appropriations rate	10.00%
Restricted portion	¥ 323,914
Significant capital and other commitments or guarantees

Prepayments and Other Current Assets (Tables)

12 Months Ended

Jun. 30, 2026

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets, as of June 30, 2025 and 2026, consist of the following:

	As of June 30,
	2025		2026
	RMB		RMB

Consideration receivable for the disposal of Divested Business		-		77,407
Receivables from third party payment platforms ⁽ⁱ⁾		5,536		8,382
Receivables from e-commerce platforms ⁽ⁱⁱ⁾		4,688		9,423
Prepaid service fees		4,066		10,102
Receivables from financial institutions security account⁽ⁱⁱⁱ⁾		19,849		5,030
Deposits		9,994		2,260
Receivables from ESOP platform for share option exercise Proceeds (on behalf of employees)		18,145		193
Prepayments for products procurement		4,954		265
Others		6,202		10,956
Total		73,434		124,018

(i)	Receivables from third-party payment platforms represent the considerations received and held by the third-party payment platforms. The Group subsequently transferred the full receivables from the third-party payment platforms to its bank accounts.

(ii)	Receivables from e-commerce platforms represent the considerations for pop toy products sold on e-commerce platforms that have been delivered to the end customers but not yet settled by the e-commerce platforms.

(iii)

Receivables from financial institutions security account consists of deposit in financial institutions security account for share repurchase purposes.

Special Cash Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2024	Jun. 30, 2026	Jun. 30, 2025
Special Cash Dividends [Line Items]
Declared dividend			2024-10
Dividends			$ 10.9
Common Stock [Member]
Special Cash Dividends [Line Items]
Dividend declared	$ 0.067
ADS [Member]
Special Cash Dividends [Line Items]
Dividend declared	$ 0.201

Taxation - Schedule of Changes in Valuation Allowance (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Schedule of Changes in Valuation Allowance [Abstract]
Balance at beginning of the year	¥ (465)
Addition	(12,295)	(465)
Balance at end of the year	¥ (12,760)	¥ (465)

Organization and Principal Activities

12 Months Ended

Jun. 30, 2026

Organization and Principal Activities [Abstract]

Organization and principal activities

1.	Organization and principal activities

(a)

Nature of operations

Here Group Limited (the “Company” or “Here”) was incorporated in the Cayman Islands on February 9, 2022 as an exempted company with limited liability. The Company changed its legal name from QuantaSing Group Limited to Here Group Limited in November 2025.The Company, its subsidiaries, the consolidated variable interest entities (the “VIEs”) and the VIEs’ subsidiaries are collectively referred to as the “Group”.

In March 2025, the Group completed an acquisition of 61.05% equity interest in Shenzhen Yiqi Culture Co., Ltd. (“Shenzhen Letsvan”), thereby entering the pop toy business (Note 3). In June 2025, the Group further acquired approximately 2.5% equity interests in Shenzhen Letsvan (Note 20). In July 2025, the Group undertook further steps to acquire all of the remaining equity interests in Shenzhen Letsvan (Note 20). As of June 30, 2026 the acquisition of non-controlling interests of Shenzhen Letsvan held by one shareholder was not closed and the Group held 76.3% of the equity interests in Shenzhen Letsvan.

On September 30, 2025, the Group, through one of its subsidiaries, Beijing Qimengdao Technology Co., Ltd. (formerly known as Beijing Liangzizhige Technology Co., Ltd.), entered into the VIE Termination Agreement with Feierlai (Beijing) Technology Co., Ltd. (“Beijing Feierlai”, or the “VIE 1”) and Beijing Chuangyuqizhi Technology Co., Ltd. (“Beijing Chuangyuqizhi”, or the “VIE 2”), and the respective nominee shareholder of Beijing Feierlai and Beijing Chuangyuqizhi, to terminate the contractual arrangements among these parties. On the same day, the Group entered into share transfer agreements with the relevant entities of a third-party buyer (the “Buyer”), pursuant to which Beijing Qimengdao Technology Co., Ltd. instructed the nominee shareholder to transfer all of its equity interests in Beijing Feierlai and Beijing Chuangyuqizhi to the Buyer, and the Company transfers all of its equity interests in QuantaSing International Limited and Rare River Group Limited to the Buyer, for an aggregate consideration of approximately equivalent to RMB180 million. Upon completion of the transactions on September 30, 2025, the Group ceased to engage in the individual online learning services business, consumer businesses, and any other businesses established prior to the acquisition of Shenzhen Letsvan (the “Divested Business”).

The disposal of the Divested Business represents a strategic shift and has a significant impact on the Company’s results of operations. Accordingly, assets, liabilities, results of operations, and cash flows related to the Divested Business have been reflected in the accompanying consolidated financial statements as discontinued operation for all periods presented. The consolidated balance sheets as of June 30, 2025, the consolidated statements of comprehensive income and consolidated statements of cash flows for the years ended June 30, 2024, 2025 and 2026 have been adjusted to reflect this change (see Note 4).

Effective September 30, 2025, upon the completion of the disposal of the Divested Business, the Group deconsolidated the financial statements of the Divested Business from its consolidated financial statements. Following the disposition, the Group’s strategic focus would be centered on the pop toy business.

As of June 30, 2026, the Company’s major subsidiaries are as follows:

	Date of incorporation	Place of incorporation	Percentage of direct or indirect economic interest			Principal activities

Wholly owned subsidiaries (offshore):
Hundreds of Mountains Limited	March 22, 2021	The BVI		100	%	Investment holding
Witty Digital Technology Limited	March 29, 2021	Hong Kong		100	%	Technical consulting and related service
CreaVerse Group Limited	February 6, 2024	Cayman Islands		100	%	Investment holding
CreaVerse Group (BVI) Limited	February 8, 2024	The BVI		100	%	Investment holding
CreaVerse Technology (Singapore) Pte. Limited	February 26, 2024	Singapore		100	%	Investment holding
CreaVerse Technology (HK) Limited	March 11, 2024	Hong Kong		100	%	Investment holding
Wholly owned subsidiaries (onshore):
Beijing Qimengdao Technology Co., Ltd. (the “WFOE”)	March 19, 2021	The PRC		100	%	Technical consulting and related service
Beijing Yiqi Culture Co., Ltd.	January 21, 2025	The PRC		100	%	Pop toy business
Shanghai Qimengdao Culture Co., Ltd.	September 2, 2025	The PRC		100	%	Pop toy business
Chongqing Qimengdao Cultural Communication Co., Ltd.	September 2, 2025	The PRC		100	%	Pop toy business
Shenzhen Qimengdao Trading Co., Ltd.	October 16, 2025	The PRC		100	%	Pop toy business
Beijing Qimengdao Cultural Communication Co., Ltd.	October 22, 2025	The PRC		100	%	Pop toy business
Beijing Qimengdao Trading Co., Ltd.	October 22, 2025	The PRC		100	%	Pop toy business
Beijing Xingxuzaowu Cultural and Creative Co., Ltd.	March 23, 2026	The PRC		100	%	Pop toy business
Xian Qimengdao Cultural Communication Co., Ltd.	March 27, 2026	The PRC		100	%	Pop toy business
Shenzhen Chaowan World Information Technology Co., Ltd.	December 24, 2024	The PRC		100	%	Pop toy business
Shenzhen Yiqi Culture Co., Ltd.	November 23, 2020	The PRC		76.3	%	Pop toy business
Shenzhen Yiqiwan Cultural Industry Co., Ltd.	August 9, 2022	The PRC		100	%	Pop toy business
Shenzhen Huiyusheji Culture Co., Ltd.	October 8, 2022	The PRC		100	%	Pop toy business
Dongguan Yiqiwan Cultural Industry Co., Ltd.	November 20, 2023	The PRC		100	%	Pop toy business
Hangzhou Yiqi Technology Development Co., Ltd.	July 16, 2025	The PRC		100	%	Pop toy business
Qimengdao (Changchun) Culture Co., Ltd.	August 18, 2025	The PRC		100	%	Pop toy business

(b)

Variable interest entity

Before September 2025, the Group operated substantially all of its Divested Business through the VIEs and VIEs’ subsidiaries. In May 2021, the Group, through one of its subsidiaries, or the WFOE, entered into a series of contractual arrangements with the VIE 1 and its shareholder, Shenzhen Erwan, an entity controlled by the Founder. In May 2024, the VIE 2 entered into a similar series of contractual arrangements with Beijing Zhixueduxing and its shareholder, Shenzhen Erwan, which were terminated in March 2025. In April 2025, the WFOE, entered into a similar series of contractual arrangements with the VIE 2 and its shareholder, Shenzhen Erwan.

In September 2025, as part of the disposal of the Divested Business, the Group terminated the aforementioned contractual agreements for VIE 1 and VIE 2, including the voting rights proxy agreements, equity pledge agreements, exclusive consultancy and service agreements and exclusive option agreements. With the termination of these VIE contractual agreements, the Group deconsolidated the VIEs from its consolidated financial statements since September 30, 2025.

The following table sets forth the assets, liabilities, results of operations and changes in cash and cash equivalents of the VIEs and VIEs’ subsidiaries, which were included in the Group’s consolidated balance sheets, consolidated statements of comprehensive income and consolidated statements of cash flows, after the elimination of intercompany balances and transactions among the VIEs and its subsidiaries:

	As of June 30,
	2025		2026
	RMB		RMB

Current assets held for sale		665,253		-
Non-current assets held for sale		10,775		-
Current liabilities held for sale		649,753		-
Non-current liabilities held for sale		37,590		-

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Net income from discontinued operation, net of income tax		69,773		124,212		172,441

	For the years ended June 30,
	2024			2025			2026
	RMB			RMB			RMB

Net cash used in operating activities from discontinued operation		(68,748	)		(74,420	)		(289,983	)
Net cash (used in)/provided by investing activities from discontinued operation		(85,679	)		(18,425	)		985
Net cash provided by financing activities from discontinued operation		43,422			132,303			-

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Cash flows from operating activities:
Net income	$ 9,362	¥ 63,516	¥ 356,568	¥ 385,527
Less: net income from discontinued operation	46,934	318,451	378,374	385,527
Net loss for continuing operations	(37,572)	(254,935)	(21,806)
Adjustments to reconcile net loss to net cash used in operating activities of continuing operations:
Fair value changes of short-term investments	60	410	(3,310)
Provision of allowance for expected credit losses	285	1,937	1,342
Inventory obsolescence impairment	316	2,143	148
Depreciation of property and equipment	1,320	8,953	1,030
Amortization of intangible assets	1,748	11,861	3,017
Impairment loss on goodwill	18,284	124,059
Share of (income)/loss from equity method investments, net of income tax	520	3,529	(1,165)
Amortization of unrecognized financing income	(1,303)	(8,838)
Dividends received from an equity method investee	1,069	7,252
Realized gains from short-term investments	(1,125)	(7,633)	(1,404)
Share-based compensation	5,448	36,963	2,513
Deferred income tax expense/(benefit)	(1,682)	(11,415)	246
Changes in operating assets and liabilities:
Accounts receivable	1,729	11,729	(6,404)
Amounts due from related parties	(1,107)	(7,508)	(975)
Prepayments and other current assets	3,393	23,030	(39,738)
Operating lease right-of-use assets	(3,380)	(22,934)	5,250
Accounts payables	5,805	39,388	5,141
Accrued expenses and other current liabilities	(13,484)	(91,485)	(178,087)
Amounts due to related parties	2,213	15,016	2,621
Income tax payable	(591)	(4,010)	(18,658)
Contract liabilities	803	5,446	94
Operating lease liabilities, current portion	1,334	9,050	(7,757)
Operating lease liabilities, non-current portion	1,714	11,631	1,948
Inventories, net	(17,783)	(120,658)	(2,856)
Other non-current assets	(901)	(6,113)	(52)
Net cash used in operating activities from continuing operations	(32,887)	(223,132)	(258,862)
Net cash provided by operating activities from discontinued operation	12,337	83,706	442,748	282,720
Net cash provided by/(used in) operating activities	(20,550)	(139,426)	183,886	282,720
Cash flows from investing activities:
Purchase of short-term investments	(416,943)	(2,829,000)	(441,133)
Proceeds from short-term investments	411,140	2,789,628	374,872
Purchase of property and equipment	(3,402)	(23,084)	(1,914)
Purchase of intangible assets	(1,097)	(7,445)
Investment income from short-term investments	1,125	7,633	1,404
Cash paid for business combination, net of cash and cash equivalents acquired			(20,000)
Proceeds from sale of equity method investments	643	4,363
Disposal of Divested Business	11,054	75,000
Disposal of property and equipment	203	1,375
Loan provided to related parties	(2,548)	(17,290)	(113)
Net cash (used in)/provided by investing activities from continuing operations	175	1,180	(86,884)
Net cash (used in)/provided by investing activities from discontinued operation	(9,459)	(64,183)	80,465	(132,784)
Net cash (used in)/provided by investing activities	(9,284)	(63,003)	(6,419)	(132,784)
Cash flows from financing activities:
Proceeds from noncontrolling interests			513
Acquisition of noncontrolling interest of subsidiaries	(19,166)	(130,044)	(7,867)
Repurchase of ADSs	(11,345)	(76,976)	(16,090)
Proceeds from exercise of share options	828	5,619	158
Repayment of short-term borrowings	(1,636)	(11,100)	(3,400)
Other cash received relating to financing activities			1,112
Net cash used in financing activities from continuing operations	(31,319)	(212,501)	(25,574)
Net cash used in financing activities from discontinued operation			(80,053)	(130,192)
Net cash used in financing activities	(31,319)	(212,501)	(105,627)	(130,192)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(617)	(4,190)	(707)	(3,934)
Net increase/(decrease) in cash, cash equivalents and restricted cash	(61,770)	(419,120)	71,133	15,810
Cash and cash equivalents and restricted cash at the beginning of the year	125,455	851,224	780,091	764,281
Including:
Cash and cash equivalents at the beginning of the year	122,350	830,159	779,931	764,281
Restricted cash at the beginning of the year	3,105	21,065	160
Cash, cash equivalents and restricted cash at the end of the year	63,685	432,104	851,224	780,091
Including:
Cash and cash equivalents at the end of the year	63,531	431,061	830,159	779,931
Restricted cash at the end of the year	154	1,043	21,065	160
Less: Cash and cash equivalents and restricted cash at the end of the year from discontinued operation			357,524	780,091
Cash, cash equivalents and restricted cash at the end of the year	63,685	432,104	493,700
Including:
Cash and cash equivalents at the end of the year	63,531	431,061	472,943
Restricted cash at the end of the year	154	1,043	20,757
Supplemental disclosure of cash flow information
Cash paid for income tax	(7,134)	(48,406)	(25,913)
Cash paid for interest	$ (13)	¥ (90)	¥ (47)

Accrued Expenses and Other Current Liabilities - Schedule of Outstanding Accrued Expenses and Other Current Liabilities (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)
Schedule of Outstanding Accrued Expenses and Other Current Liabilities [Abstract]
Accrued employee payroll and welfare benefits		¥ 27,115	¥ 34,115
Other accrued expense		13,662	9,562
Other tax payable		8,648	8,711
Payable to employees related to share option exercise proceeds		20	13,780
Total accrued expenses and other current liabilities	$ 7,287	¥ 49,445	¥ 66,168

Related Party Transactions - Schedule of Related Party Transactions (Details) - CNY (¥)
¥ in Thousands

12 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2024

Payment for acquisition of non-controlling interests in Shenzhen Letsvan

^[1]

¥ 45,200

¥ 2,800

Capital contribution of non-controlling interest from a related party

513

Lending to an equity investee of the Group

113

Related Party [Member]

Revenue from a related party

Revenue related parties

^[2]

29,293

1,503

Mr. Zhan [Member]

Lending to related parties

^[3]

17,290

Nanjing Shangde Hehua [Member]

Lending to related parties

^[4]

7,252

Sales of pop toy products [Member]

Revenue from a related party

Revenue related parties

^[2]

26,975

1,503

Others [Member]

Revenue from a related party

Revenue related parties

^[2]

2,318

IP license fee included in cost of revenues [Member]

Sales and marketing expenses from related parties

^[2]

10,402

Promotion service fee included in sales and marketing expenses [Member]

Sales and marketing expenses from related parties

^[2]

¥ 9,403

¥ 2,472

[1]

(2)

As described in Note 20, during the year ended June 30, 2025, the Group acquired a 0.88% equity interests of Shenzhen Letsvan from a non-controlling shareholder for a total consideration of RMB3,500, of which RMB2,800 was paid as of June 30, 2025 with the remaining RMB700 paid in July 2025. During the year ended June 30, 2026, the Group acquired a 4.5% equity interests from certain related parties (including certain employees and an equity method investee) for a total of cash consideration of RMB44,500, all of which was settled as of June 30, 2026.

[2]

(1)

In January 2025, the Group, Tianjin Yihua Management Consulting Co., Ltd. (“Tianjin Yihua”), a wholly-owned subsidiary of YH Entertainment Group (a company listed on the Main Board of the Stock Exchange of Hong Kong Limited (stock code: 2306)), and Yuhuatongxing, entered into a strategic cooperation framework agreement, which was subsequently supplemented and amended (the “Strategic Cooperation Framework Agreements”). Pursuant to the Strategic Cooperation Framework Agreements,

Yuhuatongxing acts as an authorized distributor of the Group and pays the Group for the pop toy products purchased.

Yuhuatongxing receives service fees from the Group for the provision of promotion services.

The Company designs, manufactures and sells pop toys incorporating certain IPs licensed from Yuhuatongxing, as well as co-developed pop toys that combine IPs owned by both parties. For sales of the above-mentioned products, the Company pays Yuhua sales-based royalties as IP license fees.

Given the Group’s payments to Yuhuatongxing are in exchange for distinct marketing services and licenses priced at fair value, the Group recorded the services received from Yuhuatongxing as selling and marketing expenses and cost of sales, rather than as a reduction of revenue derived from sales of pop toy products.

[3]

(3)

During the year ended June 30, 2026, to facilitate the Company’s acquisition of Shenzhen Letsvan non-controlling interests held by Mr. Zhan (Note 20), the Group lent RMB17.3 million to Mr. Zhan, which is an interest-free loan and repayable upon the completion of the acquisition, and within the repayment period notified by the Group. As of June 30, 2026, the loan remained outstanding.

[4]

(4)

During the year ended June 30, 2026, the Group received a distribution of RMB7,252 from Nanjing Shangde Hehua. As the distribution was funded from proceeds relating to the acquisition of Shenzhen Letsvan (Note 20), the distribution was accounted for as an elimination of an upstream transaction with an equity method investee, with a corresponding credit to additional paid-in capital.

Summary of Significant Accounting Policies (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Summary of Significant Accounting Policies [Line Items]
Convenience rate	US$1.00=RMB6.7851	US$1.00=RMB6.7851
Inventory obsolescence	$ 316	¥ 2,143	¥ 148
Advertising and marketing promotion expenses		88,901	11,841
Employee benefits		21,625	1,384
Accruals for estimated underpaid amounts		¥ 9,367	¥ 12,755
Value added tax rate		6.00%
Segment Reporting, Expense Information Used by CODM, Description	In accordance with ASC 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The Group’s CODM is the Chief Executive Officer.	In accordance with ASC 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The Group’s CODM is the Chief Executive Officer.
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	Chief Executive Officer	Chief Executive Officer
Small Scale VAT Taxpayer [Member]
Summary of Significant Accounting Policies [Line Items]
Value added tax rate		3.00%
General VAT Payer [Member]
Summary of Significant Accounting Policies [Line Items]
Value added tax rate		13.00%

Discontinued Operations (Details) - CNY (¥) ¥ in Thousands	3 Months Ended	12 Months Ended
Discontinued Operations (Details) - CNY (¥) ¥ in Thousands	Sep. 30, 2025	Jun. 30, 2026
Discontinued Operation [Abstract]
Cash consideration	¥ 180,000
Disposal of unvested share options granted to former employees for divested business		898,846
Reduce the disposal gain credit to additional paid-in capital		¥ 17,461
Aggregate net cash payment from continuing operations	¥ 377,047

Long-Term Investments (Details) - CNY (¥) ¥ in Thousands	1 Months Ended
Long-Term Investments (Details) - CNY (¥) ¥ in Thousands	Mar. 31, 2024	Jun. 30, 2026	Jun. 30, 2025
Group [Member]
Long-Term Investments [Line Items]
Equity investment		¥ 18,748
PRC [Member]
Long-Term Investments [Line Items]
Equity method ownership, percentage		46.60%	49.00%
Equity investment		¥ 3,529	¥ 1,165
Group acquired Shenzhen Letsvan [Member]
Long-Term Investments [Line Items]
Equity investment		¥ 1,614
Partnership Enterprise [Member]
Long-Term Investments [Line Items]
Equity method ownership, percentage	43.29%
Aggregate capital contribution	¥ 100,000

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Property and Equipment, Net [Abstract]

Inventory, Net - Schedule of Inventory, Net (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)
Schedule of Inventories, Net [Abstract]
Products		¥ 130,212	¥ 12,998
Raw materials, Packing materials and others		6,823	3,379
Inventories		137,035	16,377
Provisions for inventories		(2,291)	(148)
Inventories, net	$ 19,859	¥ 134,744	¥ 16,229

Share Based Compensation Expenses - Schedule of Estimated Fair Value of Each Option Grant (Details) - $ / shares	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Schedule of Estimated Fair Value of Each Option Grant [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Expected term (in years)	10 years	10 years	10 years
Fair value of the underlying shares on the date of option grants (US$) (in Dollars per share)	$ 0.93	$ 0.62	$ 0.39
Minimum [Member]
Schedule of Estimated Fair Value of Each Option Grant [Line Items]
Expected volatility	59.30%	90.10%	81.85%
Risk-free interest rate (per annum)	4.20%	3.70%	3.84%
Fair value of the underlying shares on the date of option grants (US$) (in Dollars per share)	$ 0.71	$ 0.38	$ 0.53
Maximum [Member]
Schedule of Estimated Fair Value of Each Option Grant [Line Items]
Expected volatility	61.30%	91.20%	83.12%
Risk-free interest rate (per annum)	4.40%	4.30%	4.27%
Fair value of the underlying shares on the date of option grants (US$) (in Dollars per share)	$ 3.01	$ 0.8	$ 1.2

Property and equipment, net (Tables)

12 Months Ended

Jun. 30, 2026

Schedule of Property and Equipment, Net

Property and equipment, net as of June 30, 2025 and 2026, consist of the following:

	As of June 30,
	2025			2026
	RMB			RMB

Molds		8,938			17,243
Leasehold improvements		4,172			11,082
Computer and electronic equipment		4,016			6,312
Others		355			281
Total		17,481			34,918
Less: Accumulated depreciation		(7,546	)		(12,552	)
Property and equipment, net		9,935			22,366

Accounts Receivable, Net

12 Months Ended

Jun. 30, 2026

Accounts Receivable, Net [Abstract]

Accounts receivable, net

The accounts receivable, net, as of June 30, 2025 and 2026, consists of the following:

	As of June 30,
	2025			2026
	RMB			RMB

Sales of pop toy products		29,909			18,208
Others		28			-
Accounts receivable		29,937			18,208
Less: allowance for credit losses		(432	)		(1,348	)
Accounts receivable, net		29,505			16,860

Accounts receivable, net are non-interest bearing and generally on terms between 15 days to 90 days.

The movements in the allowance for credit losses are as follows:

	For the years ended June 30,
	2025			2026
	RMB			RMB

Balance at beginning of the year		-			(432	)
Additions		(432	)		(916	)
Write-offs		-			-
Balance at end of the year		(432	)		(1,348	)

Goodwill

12 Months Ended

Jun. 30, 2026

Goodwill [Abstract]

Goodwill

17.

Goodwill

	Total
	RMB

Gross carrying value
As of June 30, 2024		-
Addition (Note 3)		187,598
As of June 30, 2025		187,598
Addition		-
As of June 30, 2026		187,598

	Total
	RMB

Accumulated impairment
As of June 30, 2024		-
Impairment		-
As of June 30, 2025		-
Impairment		(124,059	)
As of June 30, 2026		(124,059	)

Net carrying value
As of June 30, 2024			-
As of June 30, 2025			187,598
As of June 30, 2026			63,539

Following the Disposal of the Group’s Divested Business (Note 4), the Group now operates solely in the pop toy business, and management has determined that the entire Group constitutes a single reporting unit in accordance with ASC 280-10-50-1. The Group performed goodwill impairment assessments for the reporting unit as of June 30, 2026, and weighed the relevant qualitative factors and quantitative assessment results in totality. As the actual financial performance of the reporting unit did not meet prior forecasted expectations and unfavorable local market conditions, RMB124,059 goodwill impairment loss was recorded.

In performing quantitative impairment tests, the Group used an income approach based on a discounted cash flow model (“DCF model”). Forecasts of future cash flows are based primarily on the best estimate of future net revenues, gross margin and operating expenses, which are subject to expected business operation, local market development, and general economic conditions. Material changes in these forecasts could significantly change the amount of impairment recorded. Therefore, it may be necessary to record further impairment charges to the reporting unit in the future, if such changes occur.

Key assumptions used in quantitative impairment test

The quantitative impairment test consists of a comparison of the fair value of the reporting unit with its carrying amount, including goodwill. The Group used a DCF model to estimate the fair value of the reporting unit, as management believes forecasted operating cash flows are the best indicator of fair value. A number of significant assumptions were involved in the preparation of the DCF models, including future revenues and discount rates. The financial projection adopted in DCF models for impairment testing purpose is based on the financial budgets approved by the management of the Group, which considers the historical performance and its expectation for future market development. Cash flows beyond the forecasted period are extrapolated using a long-term growth rate. Post-tax discount rates reflect market assessment of the weighted average cost of capital in the industry in which the Group operates and the specific risks relating to the Group.

As of June 30, 2026, the fair value of the reporting unit fell below its carrying value by 12.7%. The estimated fair value of a reporting unit is highly sensitive to changes in management’s estimates and assumptions including, but not limited to, the revenue growth rate and discount rate.

Certain future events and circumstances, including deterioration of market conditions, increases in interest rates, and unfavorable impacts on the projections used in the impairment test for the reporting unit discussed above, including changes in customer behavior, decreases in delivery capability, and delays or difficulties in achieving the Group’s profitability goals, could cause the fair value of this reporting unit to fall below its carrying value and a non-cash impairment charge would be required. Such a charge could have a material effect on the consolidated statements of comprehensive income and consolidated balance sheets.

Ordinary Shares and Treasury Stock

12 Months Ended

Jun. 30, 2026

Ordinary Shares and Treasury Stock [Abstract]

Ordinary shares and treasury stock

22.

Ordinary shares and treasury stock

On February 9, 2022, the Company was incorporated in the Cayman Islands with an authorized share capital of US$50,000, divided into 500,000,000 shares with a par value of US$0.0001 each.

On January 27, 2023, the Company completed the initial public offering or IPO. Immediately prior to the completion of the IPO, the Company’s authorized share capital was changed into US$70,000 consisting of 700,000,000 shares, divided into: (i) 430,000,000 Class A ordinary shares of a par value of US$0.0001 each, (ii) 70,000,000 Class B ordinary shares of a par value of US$0.0001 each, and (iii) 200,000,000 shares of a par value of US$0.0001 each of such class or classes (however designated) as the board of directors may determine in accordance with the Company’s post-offering memorandum and articles of association. Immediately prior to the completion of the IPO, all of the Company’s issued and outstanding preferred shares and ordinary shares were converted into, and re-designated and re-classified, as Class A ordinary shares on a one-for-one basis, except that the 49,859,049 shares beneficially owned by Mr. Peng Li, the founder of the Company, continue to be Class B ordinary shares. Holders of Class A and Class B ordinary shares have the same rights, preferences, privileges and restrictions except for voting rights and conversion rights, whereby each Class A ordinary share shall be entitled to one vote on all matters subject to the vote at general meetings of the Company and each Class B ordinary share shall be entitled to ten votes on all matters subject to the vote at general meetings of the Company.

During the IPO, the Company issued a total of 3,250,000 ADSs, with one ADS representing three Class A ordinary share of the Company with par value of US$0.0001 per share. The Company received a total of approximately US$ 37,172 of net proceeds after deducting the underwriter commissions.

On February 16, 2023, the underwriters exercised their option to purchase 127,396 additional ADSs and the Company received a total of approximately US$1,457 of net proceeds after deducting the underwriter commissions.

During the year ended June 30, 2024, 9 Class A ordinary shares were cancelled as fractional shares in connection with ADS conversion.

During the year ended June 30, 2024, 3,835,647 Class A ordinary shares were issued and reserved for future issuance upon exercise of share options, which were recorded as treasury stock on the consolidated balance sheets.

In June 2023, the Board of Directors of the Group authorized a share repurchase program (“2023 share repurchase program”) to repurchase up to US$20,000 worth of its own American depositary shares (“ADSs”) over the following 12 months. In June 2024, the Board of Directors of the Group authorized another share repurchase program (“2024 share repurchase program”) to repurchase up to US$20,000 worth of its own ADSs over the following 12 months. In June 2025, the Board of Directors of the Group authorized another share repurchase program (“2025 share repurchase program”) to repurchase up to US$20,000 worth of its own ADSs for a purchase period beginning from June 11, 2025 and ending on June 30, 2026. In June 2026, the Board of Directors of the Group authorized another share repurchase program (“2026 share repurchase program”) to repurchase up to US$20,000 worth of its own ADSs for a purchase period beginning from July 1, 2026 and ending on June 30, 2027.The share repurchases may be made in accordance with applicable laws and regulations through open market transactions, privately negotiated transactions or other legally permissible means as determined by the management.

As of June 30, 2026, the Group had repurchased an aggregate of 21,577,482 Class A ordinary shares under the aforementioned share repurchase programs, at an average price of US$4.2 per ADS, or US$1.4 per share for a total consideration of US$30,079 (including commission to broker).

The Company accounts for the repurchased ordinary shares under the cost method and includes such treasury stock as a component of the shareholders’ equity.

During the year ended June 30, 2024 and 2025, 4,681,353 and 7,622,283 Class A ordinary shares repurchased by the Company were transferred from the Company to the ESOP Platform and reserved for future issuance upon the exercise of share options.

As of June 30, 2026, 13,701,267 Class A ordinary shares have been re-issued from the treasury stock upon exercise of share options.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Schedule of Consolidated Balance Sheet and Operations and Comprehensive Income and Cash Flow

Discontinued Operations (Tables)

12 Months Ended

Jun. 30, 2026

Discontinued Operation [Abstract]

The assets and liabilities included in the captions “Current assets held for sale”, “Non-current assets held for sale”, “Current liabilities held for sale” and “Non-current liabilities held for sale” in the consolidated balance sheets as of June 30, 2025 consist of the following:

	As of June 30, 2025
	RMB

ASSETS
Current assets:
Cash and cash equivalents		357,216
Restricted cash		308
Short-term investments		49,707
Accounts receivable, net		16,388
Inventories, net		5,232
Prepayments and other current assets		129,465
Total current assets		558,316

Non-current assets:
Property and equipment, net		1,357
Long-term investments		30,812
Operating lease right-of-use assets		7,394
Other non-current assets		3,501
Total non-current assets		43,064

LIABILITIES
Current liabilities:
Accounts payable		34,373
Accrued expenses and other current liabilities		85,638
Income tax payable		22,000
Contract liabilities, current portion		236,425
Advance from customers		113,134
Operating lease liabilities, current		6,946
Total current liabilities		498,516

Non-current liabilities:
Contract liabilities, non-current portion		35,485
Operating lease liabilities, non-current		2,399
Deferred tax liabilities		28
Total non-current liabilities		37,912

The Divested Business’ results of operations for the years ended June 30, 2024 and 2025, and for the period from July 1, 2025 to September 30, 2025, the date immediately preceding the deconsolidation of the Divested Business shown in the table below, are included in the consolidated statements of operations and comprehensive income under the caption “Net income from discontinued operation, net of income tax”, for those respective periods, after intercompany eliminations, as applicable.

	For the years ended June 30,						For the period from July 1, 2025 to September 30,
	2024			2025			2025
	RMB			RMB			RMB

Revenues		3,795,331			2,659,811			403,422
Cost of revenues		(550,310	)		(460,763	)		(77,452	)
Gross profit		3,245,021			2,199,048			325,970
Operating expenses:
Sales and marketing expenses		(2,586,977	)		(1,592,153	)		(182,302	)
Research and development expenses		(144,868	)		(89,515	)		(4,376	)
General and administrative expenses		(125,765	)		(95,499	)		(5,922	)
Impairment loss on long-lived assets		(2,652	)		-			-
Impairment loss on goodwill		(7,389	)		-			-
Total operating expenses		(2,867,651	)		(1,777,167	)		(192,600	)
Income from operations		377,370			421,881			133,370
Other income:
Interest income		10,520			4,203			77
Remeasurement gain of previously held equity interests in connection with step acquisition		-			8,109			-
Others, net		28,965			53,750			3,562
Pretax income from discontinued operation related to major classes of pretax profit		416,855			487,943			137,009
Pretax gain on disposal of discontinued operation*		-			-			284,737
Total pretax gain on discontinued operation		416,855			487,943			421,746
Income tax expense		(31,328	)		(109,569	)		(103,295	)
Net income from discontinued operation, net of tax		385,527			378,374			318,451

In connection with the Disposal, the Group decided to retain 898,846 unvested share options granted to its former employees who continued to work for the Divested Business. Management ceased to account for these share options in accordance with ASC 718 as the grantees no longer meet the definition of “employees”. Instead, these options are considered as the Group’s own financial instruments issued to the Buyer, and the fair value of such financial instruments are immediately recognized to reduce the disposal gain by RMB17,461, with a corresponding credit to additional paid-in capital.

The following table set forth the condensed cash flows of the Divested Business were as follows for the years ended June 30, 2024 and 2025 and for the period from July 1, 2025 to September 30, 2025, the date immediately preceding deconsolidation of the Divested Business, which are included in the consolidated statements of cash flows of the Group as cash flow from discontinued operation:

	For the years ended June 30,						For the period from July 1, 2025 to September 30,
	2024			2025			2025
	RMB			RMB			RMB

Net cash provided by discontinued operating activities		282,720			442,748			83,706
Net cash (used in)/provided by discontinued investing activities		(132,784	)		80,465			(64,183	)
Net cash used in discontinued financing activities		(130,192	)		(80,053	)		-

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Organization and Principal Activities [Abstract]

Subsequent Events

12 Months Ended

Jun. 30, 2026

Subsequent Events [Abstract]

Subsequent events

27.

Subsequent events

Share repurchase program

Subsequent to June 30, 2026 and as of October 21, 2026, the Company had repurchased 1,244,184 Class A ordinary shares for approximately US$0.8 million under 2026 share repurchase program.

The Group has evaluated subsequent events through October 30, 2026, which is the date the consolidated financial statements are issued, with no other material events or transactions identified that should have been recorded or disclosed in the consolidated financial statements.

Transfer of equity interests of Yuhuatongxing to Tianjin Yihua

In September 2026, the Group’s subsidiary, Shenzhen Letsvan, Yuhuatongxing and Tianjin Yihua, the controlling shareholder of Yuhuatongxing, entered into a Share Transfer Agreement, pursuant to which Shenzhen Letsvan agreed to transfer all of its equity interest in Yuhuatongxing for a consideration of RMB 4 million subject to satisfaction of certain pre-closing conditions.

As of October 30, 2026, the closing of share transfer is yet to be completed.

Organization and Principal Activities (Tables)

12 Months Ended

Jun. 30, 2026

Schedule of Major Subsidiaries

As of June 30, 2026, the Company’s major subsidiaries are as follows:

	Date of incorporation	Place of incorporation	Percentage of direct or indirect economic interest			Principal activities

Wholly owned subsidiaries (offshore):
Hundreds of Mountains Limited	March 22, 2021	The BVI		100	%	Investment holding
Witty Digital Technology Limited	March 29, 2021	Hong Kong		100	%	Technical consulting and related service
CreaVerse Group Limited	February 6, 2024	Cayman Islands		100	%	Investment holding
CreaVerse Group (BVI) Limited	February 8, 2024	The BVI		100	%	Investment holding
CreaVerse Technology (Singapore) Pte. Limited	February 26, 2024	Singapore		100	%	Investment holding
CreaVerse Technology (HK) Limited	March 11, 2024	Hong Kong		100	%	Investment holding
Wholly owned subsidiaries (onshore):
Beijing Qimengdao Technology Co., Ltd. (the “WFOE”)	March 19, 2021	The PRC		100	%	Technical consulting and related service
Beijing Yiqi Culture Co., Ltd.	January 21, 2025	The PRC		100	%	Pop toy business
Shanghai Qimengdao Culture Co., Ltd.	September 2, 2025	The PRC		100	%	Pop toy business
Chongqing Qimengdao Cultural Communication Co., Ltd.	September 2, 2025	The PRC		100	%	Pop toy business
Shenzhen Qimengdao Trading Co., Ltd.	October 16, 2025	The PRC		100	%	Pop toy business
Beijing Qimengdao Cultural Communication Co., Ltd.	October 22, 2025	The PRC		100	%	Pop toy business
Beijing Qimengdao Trading Co., Ltd.	October 22, 2025	The PRC		100	%	Pop toy business
Beijing Xingxuzaowu Cultural and Creative Co., Ltd.	March 23, 2026	The PRC		100	%	Pop toy business
Xian Qimengdao Cultural Communication Co., Ltd.	March 27, 2026	The PRC		100	%	Pop toy business
Shenzhen Chaowan World Information Technology Co., Ltd.	December 24, 2024	The PRC		100	%	Pop toy business
Shenzhen Yiqi Culture Co., Ltd.	November 23, 2020	The PRC		76.3	%	Pop toy business
Shenzhen Yiqiwan Cultural Industry Co., Ltd.	August 9, 2022	The PRC		100	%	Pop toy business
Shenzhen Huiyusheji Culture Co., Ltd.	October 8, 2022	The PRC		100	%	Pop toy business
Dongguan Yiqiwan Cultural Industry Co., Ltd.	November 20, 2023	The PRC		100	%	Pop toy business
Hangzhou Yiqi Technology Development Co., Ltd.	July 16, 2025	The PRC		100	%	Pop toy business
Qimengdao (Changchun) Culture Co., Ltd.	August 18, 2025	The PRC		100	%	Pop toy business

Schedule of the Elimination of Intercompany Balances and Transactions Among the VIEs and its Subsidiaries

	As of June 30,
	2025		2026
	RMB		RMB

Current assets held for sale		665,253		-
Non-current assets held for sale		10,775		-
Current liabilities held for sale		649,753		-
Non-current liabilities held for sale		37,590		-

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Net income from discontinued operation, net of income tax		69,773		124,212		172,441

	For the years ended June 30,
	2024			2025			2026
	RMB			RMB			RMB

Net cash used in operating activities from discontinued operation		(68,748	)		(74,420	)		(289,983	)
Net cash (used in)/provided by investing activities from discontinued operation		(85,679	)		(18,425	)		985
Net cash provided by financing activities from discontinued operation		43,422			132,303			-

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Jun. 30, 2026
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Net Income/(Loss) Per Share (Details) - shares	12 Months Ended
Net Income/(Loss) Per Share (Details) - shares	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Net Income/(Loss) Per Share [Line Items]
Vested shares	60,009	810,696	3,092,516
Preferred Stock [Member]
Net Income/(Loss) Per Share [Line Items]
Anti-dilutive weighted average shares			5,047,002
Share-Based Payment Arrangement, Option [Member]
Net Income/(Loss) Per Share [Line Items]
Anti-dilutive weighted average shares		3,904,579
Restricted Stock [Member]
Net Income/(Loss) Per Share [Line Items]
Anti-dilutive weighted average shares	3,906,394

Restricted Net Assets and Parent Company Only Condensed Financial Information

12 Months Ended

Jun. 30, 2026

Restricted Net Assets and Parent Company Only Condensed Financial Information [Abstract]

Restricted net assets and parent company only condensed financial information

28.

Restricted net assets and parent company only condensed financial information

The Group’s ability to pay dividends is primarily dependent on the Group receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the Group’s subsidiaries and the consolidated VIEs incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Group’s subsidiaries.

In accordance with the PRC laws and regulations, statutory reserve funds shall be made and can only be used for specific purposes and are not distributable as cash dividends. As a result of these PRC laws and regulations that require annual appropriations of 10% of net after-tax profits to be set aside prior to payment of dividends as general reserve fund or statutory surplus fund, the Group’s PRC subsidiaries and the consolidated VIE are restricted in their ability to transfer a portion of their net assets to the Company. The restricted portion was RMB323,914 as of June 30, 2026.

The Company performed a test on the restricted net assets of its subsidiaries and the consolidated VIEs (the “restricted net assets”) in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the condensed financial information for the parent company for the years ended June 30, 2024,2025 and 2026.

For the purpose of presenting parent only financial information, the Company records its investments in its subsidiaries under the equity method of accounting. Such investments are presented on the separate condensed balance sheets of the Company as “Investment in subsidiaries” and the income of the subsidiaries is presented as “share of income of subsidiaries”. The Company’s net financial interests in the consolidated VIEs are presented on the separate condensed balance sheets of the Company as “Net liabilities of the VIEs, and the income of the VIEs is presented as “Income from the VIEs”. The subsidiaries did not pay any dividend to the Company for the years presented. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements are not the general-purpose financial statements of the reporting entity and should be read in conjunction with the notes to the consolidated financial statements of the Company. The Company did not have significant capital and other commitments or guarantees as of June 30, 2026.

Condensed balance sheets

	As of June 30,
	2025			2026			2026
	RMB			RMB			US$

ASSETS
Current assets:
Cash and cash equivalents		61,483			24,637			3,631
Short-term investments		124			54			8
Amounts due from intra-Group companies		89,638			70,486			10,388
Prepayments and other current assets		26,497			24,637			3,632
Total current assets		177,742			119,814			17,659
Investment in subsidiaries		707,892			594,879			87,674
Total non-current assets		707,892			594,879			87,674
TOTAL ASSETS		885,634			714,693			105,333
Accrued expenses and other current liabilities		300			396			58
Amounts due to intra-Group companies		64,820			85,578			12,613
Total current liabilities		65,120			85,974			12,671
Net liabilities of the VIE		11,517			-			-
Total non-current liabilities		11,517			-			-
TOTAL LIABILITIES		76,637			85,974			12,671
SHAREHOLDERS’ EQUITY
Class A ordinary shares		81			81			12
Class B ordinary shares		34			34			5
Treasury stock		(49,054	)		(121,020	)		(17,836	)
Additional paid-in capital		1,066,860			900,672			132,743
Accumulated other comprehensive income		16,507			11,950			1,761
Accumulated deficit		(225,431	)		(162,998	)		(24,023	)
TOTAL SHAREHOLDERS’ EQUITY		808,997			628,719			92,662
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		885,634			714,693			105,333

Condensed statements of operations and comprehensive income

	For the years ended June 30,
	2024			2025			2026			2026
	RMB			RMB			RMB			US$

Revenues		-			-			-			-
Cost of revenues		-			(905	)		(393	)		(58	)
Gross Profit		-			(905	)		(393	)		(58	)
Operating expenses:
Sales and marketing expenses		-			141			(577	)		(85	)
Research and development expenses		-			15			(197	)		(29	)
General and administrative expenses		-			(2,445	)		(41,675	)		(6,142	)
Total operating expenses		-			(2,289	)		(42,449	)		(6,256	)
Loss from operations		-			(3,194	)		(42,842	)		(6,314	)
Other income:
Interest income		-			525			1,009			149
Others, net		-			536			1,936			285
Share of loss from subsidiaries		-			(19,673	)		(215,038	)		(31,692	)
Loss before income tax		-			(21,806	)		(254,935	)		(37,572	)
Income tax expense		-			-			-			-
Net loss from continuing operations, net of income tax		-			(21,806	)		(254,935	)		(37,572	)
Net income from discontinued operation, net of income tax		385,527			378,374			318,451			46,934
Net income		385,527			356,568			63,516			9,362

Net income		385,527			356,568			63,516			9,362
Other comprehensive loss
Foreign currency translation adjustments, net of nil tax		(4,869	)		(806	)		(4,557	)		(672	)
Total other comprehensive loss		(4,869	)		(806	)		(4,557	)		(672	)
Total comprehensive income		380,658			355,762			58,959			8,690

Condensed statements of cash flows

	For the years ended June 30,
	2024			2025			2026			2026
	RMB			RMB			RMB			US$

Net cash (used in)/provided by operating activities		(8,427	)		104			9,551			1,409

Cash flows from investing activities:
Loan provided to subsidiaries		(117,217	)		(56,763	)		(514	)		(76	)
Loan repaid by subsidiaries		235,424			30,009			9,104			1,342
Proceeds from short-term investments		59,520			58,132			-			-
Net cash provided by investing activities		177,727			31,378			8,590			1,266

Cash flows from financing activities:
Loan from subsidiaries		-			170,707			88,207			13,000
Repayments of loan from subsidiaries		-			(108,874	)		(69,702	)		(10,273	)
Proceeds from exercise of share options		2,467			7,696			5,619			828
Repurchase of ADSs		(130,409	)		(25,771	)		(76,976	)		(11,345	)
Dividends paid to equity holders of the Company		-			(78,111	)		-			-
Net cash used in financing activities		(127,942	)		(34,353	)		(52,852	)		(7,790	)
Effect of exchange rate changes on cash and cash equivalents		(138	)		(335	)		(2,135	)		(315	)
Net increase/(decrease) in cash and cash equivalents		41,220			(3,206	)		(36,846	)		(5,430	)
Cash and cash equivalents at beginning of the year		23,469			64,689			61,483			9,061
Cash and cash equivalents at end of the year		64,689			61,483			24,637			3,631

Property and equipment, net (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Property and Equipment, Net [Abstract]
Depreciation expenses	$ 1,320	¥ 8,953	¥ 1,030

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2026

Summary of Significant Accounting Policies [Abstract]

Summary of significant accounting policies

2.	Summary of significant accounting policies

(a)

Basis of presentation

The consolidated financial statements of the Group have been prepared in accordance with U.S. GAAP. Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below.

Comparability and Reclassification Adjustment

To conform to the current year’s presentation relating to discontinued operation of the Divested Business (Note 4), the Group has reclassified certain comparative balances in the consolidated balance sheet as of June 30, 2025 and certain comparative amounts in the consolidated statements of operations and comprehensive income for the years ended June 30, 2024 and 2025. The assets and liabilities of the discontinued operation have been classified as assets held-for-sale and liabilities held-for-sale in the consolidated balance sheet as of June 30, 2025. The results of discontinued operation for the years ended June 30, 2024 and 2025 have been reflected separately in the consolidated statements of operations and comprehensive income as a single line item for all periods presented in accordance with U.S. GAAP. Cash flows from discontinued operation of the three categories for the years ended June 30, 2024 and 2025 were separately presented in the consolidated statements of cashflows for all periods presented in accordance with U.S. GAAP. These reclassifications had no impact on net income or loss, total assets and liabilities, shareholders’ equity, or cash flows as previously reported.

(b)

Principles of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries, and the consolidated VIEs (including the VIEs’ subsidiaries).

Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors.

A consolidated VIE is an entity in which the Company, or its subsidiaries, through contractual arrangements, has the power to direct the activities that most significantly impact the entity’s economic performance, and the right to receive benefit from the entity that could potentially be significant to the entity, and therefore the Company or its subsidiaries shall be deemed to have a controlling financial interest in the entity and is the primary beneficiary of the entity. There has been no consolidated VIE since September 30, 2025.

All significant intercompany transactions and balances between the Company, its subsidiaries and the consolidated VIEs have been eliminated upon consolidation.

(c)

Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Group to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosure of contingent assets and liabilities at the balance sheet date, and the reported revenues and expense during the reporting period and disclosed in the consolidated financial statements and accompanying notes.

Significant accounting estimates reflected in the Group’s consolidated financial statements include, but are not limited to, provision of credit losses of receivables, inventory write down, fair value of short-term investments, initial measurement of leases, depreciation and amortization of long-lived assets, impairment of goodwill, valuation of intangible assets and remeasurement of previously-held investments in connection with the business combination transaction, the valuation allowance of deferred tax assets, withholding tax on undistributed earnings, fair value of non-controlling interests, as well as the valuation and recognition of share-based compensation arrangements. Actual results could differ from those estimates and such differences may be material to the consolidated financial statements.

(d)

Functional currency and foreign currency translation

The Group’s reporting currency is Renminbi (“RMB”). The functional currency of the Company and the Group’s subsidiaries incorporated in the Cayman Islands, BVI, Singapore, and Hong Kong is United States dollars (“US$”) and the Hong Kong dollar (“HKD”), while the functional currency of subsidiaries incorporated in Vietnam and Indonesia is the Vietnamese dong and the Indonesian rupiah, respectively. The Group’s PRC subsidiaries determined their functional currency to be RMB. The determination of the respective functional currency is based on the criteria set out by ASC 830, Foreign Currency Matters.

Transactions denominated in foreign currencies other than functional currency are translated into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies other than functional currency are remeasured into the functional currency at the exchange rates prevailing at the balance sheet date. Exchange gains or losses arising from foreign currency transactions are recorded in the consolidated statements of operations and comprehensive income.

The financial statements of the Group’s non-PRC entities are translated from their respective functional currency into RMB. Assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates at the balance sheet date. Equity accounts other than earnings generated in current period are translated into RMB at the appropriate historical rates. Revenues, expenses, gains and losses are translated into RMB using the average exchange rates for the relevant period.

The resulting foreign currency translation adjustments are recorded as a component of accumulated other comprehensive loss in the consolidated statement of changes in shareholders’ equity and a component of other comprehensive loss in the consolidated statement of operations and comprehensive income.

(e)

Convenience translation

Translations of the consolidated balance sheet, the consolidated statement of operations and comprehensive income and the consolidated statement of cash flows from RMB into US$ as of and for the year ended June 30, 2026 are solely for the convenience of the readers and have been calculated at the rate of US$1.00=RMB6.7851, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on June 30, 2026. No representation is made that the RMB amounts could have been, or could be, converted, realized, or settled into US$ at that rate on June 30, 2026, or at any other rate.

(f)

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, time deposits, and funds held in deposit accounts with banks, which are highly liquid and have original maturities of three months or less and are unrestricted as to withdrawal or use.

(g)

Restricted cash

Cash that is legally or contractually restricted as to withdrawal or for use or pledged as security is reported separately on the face of the consolidated balance sheets. In accordance with Accounting Standards Codification (“ASC”) 230, the amounts generally described as restricted cash and restricted cash equivalents are included in the total cash, cash equivalents and restricted cash balances in the consolidated statements of cash flows.

(h)

Accounts receivable

Accounts receivable are recorded at the invoiced amount and do not bear interest. Accounts receivable mainly represent receivable from sales of pop toy products.

The Group’s other receivables which were recorded as a component of the prepaid expenses and other current assets and other non-current assets are within the scope of ASC Topic 326.

To estimate expected credit losses, in accordance with ASC Topic 326, the Group has identified the relevant risk characteristics of its customers and the counterparties and the related accounts receivable and other receivables which include size, type of the services or the products the Group provides, or a combination of these characteristics. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Group considers the past collection experience, current economic conditions, future economic conditions (external data and macroeconomic factors) and changes in the Group’s customer collection trends. This is assessed at each quarter based on the Group’s specific facts and circumstances. The allowance for credit losses and corresponding receivables is written off when they are determined to be uncollectible.

(i)

Inventories, net

Inventories, mainly consisting of products available for sale and raw materials, are recorded at the lower of cost or net realizable value. Cost of inventories is determined using the weighted average cost method. Net realizable value is based on estimated selling prices in the ordinary course of business, less reasonably predictable selling cost. Write-down is recorded when future estimated net realizable value is less than cost, which is recorded in cost of revenues in the consolidated statements of operations and comprehensive income. The Group recorded nil, RMB148 and RMB2,143 inventory obsolescence impairment for the years ended June 30, 2024, 2025 and 2026, respectively.

(j)

Fair value measurement

Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact, and it considers assumptions that market participants would use when pricing the asset or liability.

Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

●

Level 1 applies to assets or liabilities for which there are quoted prices, in active markets for identical assets or liabilities.

●

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

●

Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, amounts due from related parties, other receivables, accounts payables, and accrued expenses and other current liabilities approximate their fair values because of their short-term nature. Operating lease liabilities are measured at amortized cost using discounted rates reflected time value of money, thus the carrying amount approximates its fair value. The Group’s short-term investments mainly consisted of wealth management products which contain variable returns, and are measured at fair value (Note 2(k)).

Accounting guidance also describes three main approaches to measure the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates.

The Group’s non-financial assets, such as property and equipment, intangible assets and goodwill, would be measured at fair value only if they were determined to be impaired.

(k)

Short-term investments

Short-term investments include (i) wealth management products with variable interest rates or principal non-guaranteed issued by certain financial institutions; (ii) investment in equity securities of publicly listed companies for which the Group does not have significant influence. In accordance with ASC 825, Financial Instruments, for financial products with variable returns referenced to performance of underlying assets, the Group elected the fair value method at the date of initial recognition and carries these investments at fair value. Fair value is estimated based on quoted prices of similar products provided by financial institutions at the end of each reporting period. Investments in marketable securities are accounted for pursuant to ASC 321 and reported at their readily determinable fair value as quoted by market exchanges in the consolidated balance sheets with change in fair value recognized in earnings. Changes in the fair value of these investments are reflected in the consolidated statements of operations and comprehensive income as investment income and included in “Others, net”.

(l)

Prepayments and other current assets

Prepayments and other current assets mainly consist of prepayments for promotion fees and other service fees, prepaid input value-added tax, deposits, receivables from third party payment platforms and third-party e-commerce platforms and receivables of consideration for Divested Business. Prepayments and other current assets are stated at the historical carrying amount net of the allowance for credit losses. The Group reviews other assets on a periodic basis and makes allowances when there is doubt as to the collectability of individual balances. Other assets are written off when they are determined to be uncollectible.

(m)

Property and equipment, net

Property and equipment are recorded at cost, less accumulated depreciation and impairment. Depreciation of property and equipment is calculated on a straight-line basis, after consideration of expected useful lives and estimated residual values. The Group has not recorded any impairments of property and equipment for the period presented. The estimated useful lives of these assets are generally as follows:

Category		Estimated useful life

Leasehold improvements		Shorter of the lease term or estimated economic life
Computer and electronic equipment		3 years
Molds		3-5 years
Furniture		3-5 years
Motor vehicles		4 years

Repairs and maintenance costs are charged to expenses as incurred, whereas the costs of renewals and betterment that extend the useful lives of property, plant and equipment are capitalized as additions to the related assets. Gains and losses from the disposal of property and equipment are included in the consolidated statements of operations and comprehensive income.

(n)

Intangible assets

Intangible assets mainly include those acquired through business combinations and purchased intangible assets. Intangible assets acquired through business combinations are recognized as assets separate from goodwill if they satisfy either “contractual-legal” or “separability” criterion. Intangible assets arising from business combinations are recognized and measured at fair value upon acquisition. Purchased intangible assets are initially recognized and measured at cost upon acquisition. Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives based on either an accelerated method that reflects the pattern in which economic benefits of the intangible assets are consumed if that pattern can be reliably determined and results in higher amortization in the earlier years of the assets’ useful life, or using a straight-line method as follows:

Category		Estimated useful life

Software		1 year to 2 years
Intellectual property rights (“IP Rights”)		10 years
Licensed intellectual properties (“Licensed IPs”)		2-10 years
Channel relationship		3 years

Separately identifiable amortizable intangible assets and other long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for identifiable intangible assets is based on the amounts by which the carrying amounts of the assets exceed the fair values of the assets.

Intangible assets with an indefinite useful life mainly consist of the Group’s brand name. Intangible assets with an indefinite life are not amortized and are tested for impairment annually or more frequently if events or changes in circumstances indicate that they might be impaired.

(o)

Goodwill

Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. Goodwill is not amortized, but tested for impairment annually or more frequently if event and circumstances indicate that it might be impaired.

Goodwill is tested for impairment at the reporting unit level on an annual basis and between annual tests if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying value. These events or circumstances include a significant change in stock prices, business environment, legal factors, financial performances, competition, or events affecting the reporting unit. Application of the goodwill impairment test requires judgment, including the identification of reporting units, assignment of assets and liabilities to reporting units, assignment of goodwill to reporting units, and determination of the fair value of each reporting unit.

The Group first assess qualitative factors to determine whether it is “more likely than not” that the fair value of a reporting unit is less than its carrying amount. If as a result of the qualitative assessment, it is more likely than not that the fair value of the reporting unit is less than its carrying amount, the quantitative impairment test is mandatory. Otherwise, no further testing is required. The quantitative impairment test consists of a comparison of the fair value of each reporting unit with its carrying amount, including goodwill. If the carrying amount of each reporting unit exceeds its fair value, an impairment loss equal to the difference between the fair value of the reporting unit and its carrying amount will be recorded.

(p)

Long-term investments

Investments in common stock or in-substance common stock and limited-partnership investments in entities over which the Group can exercise significant influence but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC 323 Investments-Equity Method and Joint Ventures. The Group adjusts the carrying amount of equity method investment for its share of the income or losses of the investee and reports the recognized income or losses in the consolidated statements of comprehensive income/(loss). When the Group’s share of losses in the equity investee equals or exceeds its interest in the equity investee, the Group does not recognize further losses, unless the Group has incurred obligations or made payments or guarantees on behalf of the equity investee, or the Group holds other investments in the equity investee. The Group’s share of the income or losses of an investee is based on the shares of common stock and in-substance common stock held by the Group.

The Group continually reviews its investment in equity investees under the equity method to determine whether a decline in fair value to below the carrying value is other-than-temporary. The primary factors the Group considers in its determination are the duration and severity of the decline in fair value, the financial condition, operating performance and the prospects of the equity investee, and other company specific information such as recent financing rounds.

(q)

Impairment of long-lived assets other than goodwill and indefinite-lived intangible assets

Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will affect the future use of the assets) indicate that the carrying value of an asset may not be fully recoverable or that the useful life is shorter than the Group had originally estimated. When these events occur, the Group evaluates the impairment for the long-lived assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Group recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets.

(r)

Operating Leases

The Group accounts for leases in accordance with ASC 842, Leases (“ASC 842”), which requires lessees to recognize leases on the balance sheet and disclose key information about leasing arrangements.

The Group has operating leases primarily for office space, offline stores and warehouses. The determination of whether an arrangement is a lease or contains a lease is made at inception by evaluating whether the arrangement conveys the right to use an identified asset and whether the Group obtains substantially all the economic benefits from and has the ability to direct the use of the asset. The Group elects not to apply the recognition requirements of ASC 842 to short-term leases. Variable lease payments are the payments made by a lessee to a lessor for the right to use an underlying asset that vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time. Variable lease payments are recorded in the period in which the obligation for the payment is incurred. Other operating leases are included in operating lease right-of-use assets, operating lease liabilities, current portion, and operating lease liabilities, non-current portion on the consolidated balance sheets.

The Group uses the implicit rate when readily determinable, or its incremental borrowing rate based on the information available, at the commencement date in determining the present value of lease payments. Certain leases include renewal options and/or termination options. Renewal options are included in the lease term if the Group is reasonably certain to exercise those options while options to terminate the lease are only included in the lease term if the Group is reasonably certain not to exercise those options. Lease expenses are recorded on a straight-line basis over the lease term.

(s)

Treasury stock

The Group accounts for treasury shares using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury stock account on the consolidated balance sheets. Treasury stock is shown separately in the shareholders’ equity before the ultimate disposition of those shares acquired. When the treasury shares are reissued, the Group reduces treasury shares at an amount equal to its cost, and record the reissuance gain in additional paid-in capital; in the case of reissuance loss, the Group record the reissuance loss in additional paid-in capital to the extent of prior reissuance gains, the remaining is recorded against retained earnings, or in the absence of retained earnings, by charging against additional paid-in capital. Once additional paid-in capital has been exhausted, additional charges are recorded by increasing the accumulated deficit. At retirement or cancellation of the treasury stock, the ordinary shares account is charged only for the aggregate par value of the shares. The excess of the acquisition cost of treasury stock over the aggregate par value is charged to retained earnings.

(t)

Net (loss)/income per ordinary share

Basic net (loss)/income per ordinary share is computed by dividing net (loss)/income attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. For the calculation of diluted net (loss)/income per ordinary share, the weighted average number of ordinary shares is adjusted by the effect of potential dilutive ordinary shares, including ordinary shares issuable upon the exercise of outstanding share options using the treasury stock method. The effect mentioned above is not included in the calculation of the diluted net (loss)/income per ordinary share when inclusion of such effect would be anti-dilutive.

The shares repurchased by the Company are excluded from the number of shares outstanding for purposes of computing basic and diluted net (loss)/income per ordinary share in accordance with ASC 260.

(u)

Non-controlling interests

The Group’s consolidated financial statements include entities in which the Company has a controlling financial interest. Earnings or losses attributable to non-controlling interest shareholders of its subsidiaries and VIEs are classified separately as “Non-controlling interests” in the Company’s consolidated statements of operations and comprehensive income.

(v)

Business combination

The Group accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805, Business Combinations. The purchase price of the acquisition is allocated to the tangible assets, liabilities, identifiable intangible assets acquired and non-controlling interest, if any, based on their estimated fair values as of the acquisition date. The excess of the purchase price over those fair values is recorded as goodwill. Acquisition-related expenses are expensed as incurred.

Considerations transferred in a business combination are measured at the fair value as of the date of acquisition. Where the consideration in an acquisition includes contingent consideration, and the payment of which depends on the achievement of certain specified conditions post-acquisition, the contingent consideration is recognized and measured at its fair value at the acquisition date and is recorded as a liability. It is subsequently carried at fair value with changes in fair value reflected in earnings.

In a business combination achieved in stages, the Group remeasures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the remeasurement gain or loss, if any, is recognized in the consolidated statements of operations and comprehensive income.

(w)

Discontinued operation

A discontinued operation may include a component of an entity or a group of components of an entity, or a business or non-profit activity. A disposal of a component of an entity or a group of components of an entity is reported in discontinued operation if the disposal results from strategic shift that has (or will have) a major effect on an entity’s operations and financial results when any of the following occurs: (1) the component of an entity or group of components of an entity meets the criteria to be classified as held for sale; (2) the component of an entity or group of components of an entity is disposed of by sale; (3) the component of an entity or group of components of an entity is disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spinoff). For any component classified as held for sale or disposed of by sale or other than by sale that qualify for presentation as a discontinued operation in the period, the Group has reported the assets and liabilities of the discontinued operation as current assets held for sale, non-current assets held for sale, current liabilities held for sale, and non-current liabilities held for sale in the consolidated balance sheets. The results of discontinued operation were reflected separately in the consolidated statements of operations and comprehensive income as a single line item for all periods presented in accordance with U.S. GAAP. Cash flows from discontinued operation of the three categories were separately presented in the consolidated statements of cash flows for all periods presented in accordance with U.S. GAAP.

(x)

Revenue recognition

The Group recognizes revenue from the sale of pop toy products in accordance with ASC 606, Revenue from Contracts with Customers. Under ASC 606, the Group determines revenue recognition through the following steps:

Identification of the contract, or contracts, with a customer;

Identification of the performance obligations in the contract;

Determination of the transaction price, including the constraint on variable consideration;

Allocation of the transaction price to the performance obligations in the contract;

Recognition of revenue when (or as) the Group satisfies a performance obligation.

Revenue is recognized when control of the promised goods or services is transferred to customers and is measured at the fair value of the consideration received or receivable, representing amounts billed or billable for goods supplied or services rendered. Such amounts are stated net of discounts, sales incentives, return allowances and value-added taxes (“VAT”) collected from customers and remitted to tax authorities. Return allowances, which reduce revenue, are estimated using the most likely amount method based on the Group’s historical return data and its analysis of returns patterns by product category.

The Group’s revenue is predominantly derived from its pop toy business, following the disposal of the Divested Business on September 30, 2025. The Group sells its pop toy products through multiple channels, including distributors, online platforms, self-operated offline retail stores and roboshop machines.

For sales to distributors, revenue is recognized upon delivery to the contractual shipping destination. At that point, the Group has no remaining performance obligations that could affect the distributors’ acceptance of the products. The significant risks and rewards of ownership, including those related to obsolescence and loss, have also been passed to the distributors upon delivery. A receivable is recognized at the time of delivery, as the Group’s right to consideration becomes unconditional and only the passage of time is required before payment falls due. In cases where customers make advance payments, the Group’s records such amounts as contract liabilities upon receipt and subsequent recognizes them as revenue when control of the products is transferred to the customers.

For sales made through online platforms, including self-developed online platform or third-party e-commerce platforms, revenue is recognized at the point in time when the end customers receive the delivered products. The transaction price for such sales is recorded net of estimated sales discounts at the time of sale. Consideration paid by end customers upon placement of orders and is collected immediately if the orders are placed through self-developed online platform, or after the delivery of the products through settlement with the third-party products through settlement with the third-party e-commerce platforms. Commissions to the third-party e-commerce platforms represent incremental costs to obtain contracts. The Group applies the practical expedient to expense the commissions as incurred, as the expected amortization period is less than one year.

For sales through self-operated retail stores and roboshops, revenue is recognized at the point when customers place purchase orders by making payment and simultaneously take physical possession of the products. The transactions are settled contemporaneously in cash, by credit or debit cards, or through third-party payment service providers. The Group does not have material performance obligations subsequent to the point of sale for this channel.

Other revenue includes sales or services related to various other offerings, such as IP licensing and operation services. Revenue is recognized when the relevant services are rendered and the customer simultaneously receives and consumes the benefits provided by the Group.

Practical expedients

The Group has used the following practical expedients as allowed under ASC 606:

(i)

The effects of a significant financing component have not been adjusted for contracts which the Group expects, at contract inception, that the period between when the Group transfers a promised good or service to the customer and when the customer pays for that good or service will be one year or less.

(ii)

The Group expenses the costs to obtain a contract as incurred when the expected amortization period is one year or less.

Contract balances

Timing of revenue recognition may differ from the timing of invoicing to customers. The Group recognizes contract assets or contract liabilities and accounts receivable in the consolidated balance sheets, depending on the relationship between the Group’s performance and the customer’s payment. Accounts receivable represents amounts invoiced and revenue recognized prior to invoicing, when the Group has satisfied its performance obligations and has the unconditional right to payment, and a contract asset if not yet has the unconditional right to receive consideration.

Contract liability is related to the payments received by the Group in advance from customers

before the control of the products transferred or the services rendered.

As of June 30, 2025, the Group’s contract liabilities were RMB1,665, substantially all of which was recognized as revenue for the year ended June 30, 2026. The Group’s contract liabilities were RMB7,111 as of June 30, 2026, which are expected to be recognized as revenue within one year.

Revenue Disaggregation

The following table sets forth a breakdown of the Group’s revenues disaggregated by business line:

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Revenue from sales of pop toy products		-		65,781		592,675
-Distributors		-		51,953		446,274
-Online platforms		-		12,820		126,035
-Self-operated offline retail stores and roboshop machines		-		1,008		20,366
Others		-		-		4,123
Total revenues		-		65,781		596,798

(y)

Cost of revenues

Cost of revenues mainly consists of costs of goods sold, license fee, supply chain related personnel costs, warehousing costs and molds depreciation, freight expenses, impairment of inventories and physical inventories loss.

(z)

Sales and marketing expenses

Sales and marketing expenses consist primarily of: (i) marketing and promotional expenses, including costs related to the promotion of brand influence and IP product marketing, offline campaign execution and online traffic acquisition; (ii) salaries and benefits (including share-based compensation expenses) related to the Group’s sales and marketing team; (iii) operating expenses associate with retail stores and roboshops, including rental expenses, depreciation and other related expenses; (iv) commissions and e-commerce platform service charges; (v) other expenses incurred by the Group’s sales and marketing personnel. Marketing and promotional expenses are expensed as sales and marketing expenses when the services are received. For the years ended June 30, 2024, 2025 and 2026, marketing and promotional expenses were nil, RMB11,841, and RMB88,901, respectively.

(aa)

General and administrative expenses

General and administrative expenses consist primarily of salaries and benefits (including share-based compensation expenses) and related expenses for employees involved in general corporate functions, including finance, legal and human resources, rental fees, and professional service fees.

(ab)

Research and development expenses

Research and development expenses primarily consist of (i) salaries and benefits for the Group’s in-house creative design and product development teams, who are responsible for the design of IP characters and the diversification of product category portfolios, and (ii) other expenses associated with aforementioned activities, including office rental, general expenses and depreciation expenses.

(ac)

Share-based compensation expenses

All share-based awards granted to the founder, management, directors and employees, including restricted ordinary shares and share options, are measured at fair value on grant date. Share based compensation expense is recognized using the graded-vesting method over the requisite service period, which is the vesting period. The Group accounts for share-based compensation benefits granted to grantee in accordance with ASC 718 Stock Compensation. Information relating to the plans is set out in Note 21.

The Group uses the binomial option-pricing model or other appropriate methods to estimate the fair value of share options. The determination of estimated fair value of share-based payment awards on the grant date is affected by the fair value of the Company’s ordinary shares as well as assumptions regarding a number of complex and subjective variables. These variables include the expected value volatility of the Company over the expected term of the awards, actual and projected employee share option exercise behaviors, a risk-free interest rate, exercise multiple and expected dividend yield, if any.

Some awards are granted with service only conditions and some awards granted with both performance conditions and service conditions. For awards granted with performance conditions and service conditions, the Company evaluates the likelihood of performance conditions being met at each reporting period. Share-based compensation costs are recorded when the performance conditions are considered probable for the number of awards expected to vest on a graded-vesting basis, net of estimated forfeitures, over the requisite service period. The Group has chosen to account for forfeitures related to service condition aspects when they occur. The compensation cost of the awards granted with performance conditions and service conditions is measured based on the fair value of the awards when all conditions to establish the grant date have been met.

(ad)

Employee benefits

Full-time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries and the consolidated VIEs of the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Group has no legal obligation for the benefits beyond the contributions made. Employee social security and welfare benefits included as expenses of continuing operations in the consolidated statements of operations and comprehensive income amounted to nil, RMB1,384 and RMB21,625 for the years ended June 30, 2024, 2025 and 2026, respectively. The total balances of employee welfare benefits, including the accruals for estimated underpaid amounts, were approximately RMB12,755 and RMB9,367 as of June 30, 2025 and 2026, respectively.

(ae)

Taxation

Income taxes

Current income taxes are provided based on(loss)/income before income tax for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions.

Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements, net operating loss carry forwards and credits. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be reversed or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the statement of comprehensive (loss)/income in the period of the enactment of the change.

The Group considers positive and negative evidence when determining whether a portion or all its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Group has considered possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry. The Group records a valuation allowance to reduce the amount of deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized.

Value added Tax (“VAT”)

For the sales of products, the Group is subject to VAT at the rate of 3% for small scale VAT taxpayer and 13% for general VAT payer. For services provided, the Group is subject to VAT at the rate of 6% depending on whether the entity is a general taxpayer, and related surcharges on revenue generated from providing services. Entities that are VAT general taxpayers are allowed to offset qualified input VAT, paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in the line item of accrued expense and other liabilities on the face of balance sheet. The Group records revenue net of value added tax and the Group records the related surcharges as cost of revenues.

(af)

Comprehensive income

Comprehensive income is defined to include all changes in equity of the Group during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Comprehensive income includes net income and foreign currency translation adjustments of the Group.

(ag)

Segment reporting

In accordance with ASC 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The Group’s CODM is the Chief Executive Officer. The CODM reviews separate financial information presented for each segment of the Group and measures the performance of each segment primarily based on segment revenue and segment gross profit.

For the year ended June 30, 2024, the Group identified two operating segments, including learning service and others and consumer business. For the year ended June 30, 2025, as a result of the acquisition of Shenzhen Letsvan in March 2025 (Note 3), the Group identified one more operating segment, pop toy business. Subsequent to the disposal of Divested Business in September 2025 (Note 4), the Group’s CODM relies upon the consolidated results of operations as a whole for the only remaining pop toy business when making decisions about allocating resources and assessing the performance of the Group. As a result of the assessment made by CODM, the Group has only one reportable segment as defined by ASC 280.

As the Group’s long-lived assets are substantially all located in the PRC and substantial portion of the Group’s revenues are derived from the PRC, no geographical segments are presented.

(ah)

Impact of newly adopted accounting pronouncement

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid, among other enhancements to improve the effectiveness of income tax disclosures. For public business entities, ASU 2023-09 is effective for annual periods beginning after December 15, 2024. For entities other than public business entities, ASU 2023-09 is effective for annual periods beginning after December 15, 2025; however, early adoption is permitted. The Group adopted the amendments prospectively for the fiscal year ended June 30, 2026. Please refer to Note 18 for further details.

(ai)

Recently issued accounting pronouncements not yet adopted

The Group qualifies as an “emerging growth company”, or EGC, pursuant to the Jumpstart Our Business Startups Act of 2012, as amended, or the JOBS Act. As an EGC, the Group does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards.

In November 2024, the FASB issued ASU 2024-03, “Income Statement –Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which requires entities to disaggregate operating expenses into specific categories such as employee compensation, depreciation, and intangible asset amortization, by relevant expense caption on the statement of operations. The standard is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted on either a prospective or retrospective basis. The Company is currently evaluating the impact of adopting ASU 2024-03 on its consolidated financial statements and related disclosures. The amendments only impact disclosures and are not expected to have an impact on the Group’s financial condition and results of operations.

In July 2025, the FASB issued ASU 2025-05, “Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets”, which provides (1) all entities with a practical expedient and (2) entities other than public business entities with an accounting policy election when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. The standard is effective for interim and annual periods beginning after December 15, 2025. Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance. The Group is currently evaluating the impact of adopting ASU 2025-05.

In September 2025, the FASB issued ASU 2025-06, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), which removes all references to software development project stages so that the guidance is neutral to different software development methods. Therefore, under ASU 2025-06, software capitalization will begin when management has authorized and committed to funding the software project and when it is probable that the project will be completed and the software will be used to perform the function intended. ASU 2025-06 will be effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods with early adoption permitted. The guidance is to be applied on a prospective basis, or on a modified transition approach or a retrospective transition approach. The Group does not expect the adoption of the ASU to have a material impact on the consolidated financial statements.

In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”), which provides updated guidance on how to recognize, measure, and present government grants. The ASU will be effective for annual reporting periods beginning after December 15, 2028, including interim periods within those annual reporting periods, with early adoption permitted. The Group does not expect the adoption of the ASU to have a material impact on the consolidated financial statements.

Net Income/(Loss) Per Share

12 Months Ended

Jun. 30, 2026

Net Income/(Loss) Per Share [Abstract]

Net income/(loss) per share

24.

Net income/(loss) per share

Basic net income/(loss) per share is the amount of net loss available to each share of ordinary shares outstanding during the reporting period. Diluted net loss per share is the amount of net loss available to each share of ordinary shares outstanding during the reporting period adjusted to include the effect of potentially dilutive ordinary equivalent shares.

Basic net income/(loss) per share and diluted net income/(loss) per share were calculated in accordance with ASC 260 Earnings per share for the years ended June 30, 2024, 2025 and 2026 as below:

	For the years ended June 30,
	2024		2025			2026
	RMB		RMB			RMB

Numerator:
Net income for discontinued operation		385,527		378,374			318,451
Net income attributable to noncontrolling interests		-		(3	)		(12	)
Net income from discontinued operation attributable to ordinary shareholders of Here Group Limited		385,527		378,371			318,439
Denominator:
Weighted average number of ordinary shares outstanding (i)
— basic		164,998,649		161,291,663			161,393,281
— diluted		164,998,649		161,291,663			161,393,281
Net income from discontinued operation per ordinary share attributable to ordinary shareholders of Here Group Limited
— basic		2.34		2.35			1.97
— diluted		2.34		2.35			1.97

Numerator:
Net loss for continuing operations		-		(21,806	)		(254,935	)
Net loss/(income) attributable to noncontrolling interests		-		2,165			(1,071	)
Net loss from continuing operations attributable to ordinary shareholders of Here Group Limited		-		(19,641	)		(256,006	)
Denominator:
Weighted average number of ordinary shares outstanding (i)
— basic		164,998,649		161,291,663			161,393,281
— diluted		164,998,649		161,291,663			161,393,281
Net loss from continuing operations per ordinary share attributable to ordinary shareholders of Here Group Limited
— basic		-		(0.12	)		(1.59	)
— diluted		-		(0.12	)		(1.59	)

(i)	Basic and diluted net income/(loss) per share are computed using the weighted average number of ordinary shares outstanding during the period, including 3,092,516, 810,696 and 60,009 vested options with nominal exercise price for the years ended June 30, 2024, 2025 and 2026.

For the years ended June 30, 2024, 2025 and 2026, as the Group is in a net loss position for the continuing operations, the potential ordinary shares were anti-dilutive and excluded from the calculation of diluted net loss per share. For the years ended June 30, 2024, 2025 and 2026, stock options to purchase ordinary shares and restricted shares that were anti-dilutive and excluded from the calculation of diluted net loss per share of the Company were 5,047,002, 3,904,579 and 3,906,394 respectively, on a weighted average basis.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2026

Summary of Significant Accounting Policies [Abstract]

Schedule of Property and Equipment, Net Estimated Useful Lives

The estimated useful lives of these assets are generally as follows:

Category		Estimated useful life

Leasehold improvements		Shorter of the lease term or estimated economic life
Computer and electronic equipment		3 years
Molds		3-5 years
Furniture		3-5 years
Motor vehicles		4 years

Schedule of Intangible Assets Estimated Useful Lives

higher amortization in the earlier years of the assets’ useful life, or using a straight-line method as follows:

Category		Estimated useful life

Software		1 year to 2 years
Intellectual property rights (“IP Rights”)		10 years
Licensed intellectual properties (“Licensed IPs”)		2-10 years
Channel relationship		3 years

Schedule of Group’s Revenues Disaggregated by Business Line

The following table sets forth a breakdown of the Group’s revenues disaggregated by business line:

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Revenue from sales of pop toy products		-		65,781		592,675
-Distributors		-		51,953		446,274
-Online platforms		-		12,820		126,035
-Self-operated offline retail stores and roboshop machines		-		1,008		20,366
Others		-		-		4,123
Total revenues		-		65,781		596,798

Inventories, Net (Tables)

12 Months Ended

Jun. 30, 2026

Inventories, Net [Abstract]

Schedule of Inventories, Net

Inventories, net, as of June 30, 2025 and 2026, consist of the following:

	For the years ended June 30,
	2025			2026
	RMB			RMB

Finished goods		12,998			130,212
Raw materials, packing materials and others		3,379			6,823
Inventories		16,377			137,035
Provisions for inventories		(148	)		(2,291	)
Inventories, net		16,229			134,744

Share Based Compensation Expenses

12 Months Ended

Jun. 30, 2026

Share Based Compensation Expenses [Abstract]

Share based compensation expenses

21.

Share based compensation expenses

Compensation expenses from continuing operations recognized for share-based compensation awards granted by the Company were as follows:

	For the years ended June 30,
	2024		2025			2026
	RMB		RMB			RMB

Included in:
Cost of revenues		-		(11	)		195
Sales and marketing expenses		-		98			655
Research and development expenses		-		77			248
General and administrative expenses		-		2,349			35,865
Total		-		2,513			36,963
(a) Share options		-		1,305			6,099
(b) Acquisition of equity interests from non-controlling shareholders		-		1,208			-
(c) Restricted shares issued to the Founder of Shenzhen Letsvan		-		-			30,864
Total		-		2,513			36,963

(a)

Share options

On May 31, 2022, the Company adopted the 2018 Employee Share Incentive Plan (the “2018 Plan”) and the 2021 Gl0bal Share Plan (the “2021 Plan”), whereby the maximum aggregate number of ordinary shares that can be issued under the 2018 Plan and the 2021 Plan was 21,717,118 shares. On December 20, 2022, the Company’s board of directors authorized an expansion of the reserved shares pool for the 2021 Plan with an addition number of 16,523,627 ordinary shares.

The Company granted options to employees and directors under the 2018 Plan and 2021 Plan. All granted options have a contractual term of ten years. The options vest over a requisite service period of three, four or five years, depending on the terms of each award agreement, in three, four or five equal installments, with 33%, 25% or 20% of the total options vesting on each anniversary of the vesting commencement date. Certain of these options are subject to performance conditions.

During the year ended June 30, 2026, the Company modified share options granted certain departing employees to allow post-termination vesting and exercisability. This modification was accounted for as a Type III (improbable-to-probable) modification pursuant to ASC 718-20-35-3, and the Company recognized RMB3,537 of stock-based compensation expense, measured at the modification-date fair value.

A summary of activities of share options of the Company for the years ended June 30, 2024, 2025 and 2026 is presented below:

	Options Outstanding			Weighted Average Exercise Price (US$)		Weighted Average Remaining Contractual Life (In years)		Aggregate Intrinsic Value (RMB)

Outstanding as of July 1, 2023		18,225,251			0.1831		9.01		346,378
Granted		4,217,652			0.4066
Exercised		(1,852,806	)		0.2261
Forfeited		(2,807,954	)		0.2507
Expired		(120,003	)		0.7162
Outstanding as of June 30, 2024		17,662,140			0.2176		8.37		44,127
Options vested and exercisable as of June 30,2024		11,871,925			0.1573		8.01		34,836

Outstanding as of July 1, 2024		17,662,140			0.2176		8.37		44,127
Granted		680,000			0.4000
Exercised		(11,365,500	)		0.1402
Forfeited		(940,214	)		0.4594
Expired		(137,361	)		0.7030
Outstanding as of June 30, 2025		5,899,065			0.3380		8.13		118,750
Options vested and exercisable as of June 30,2025		2,505,209			0.3486		7.63		50,239

Outstanding as of July 1, 2025		5,899,065			0.3380		8.13		118,750
Granted		1,149,000			1.5894
Exercised		(482,961	)		0.4726
Forfeited		(610,254	)		0.5749
Expired		(17,681	)		0.5143
Outstanding as of June 30, 2026		5,937,169			0.5443		7.56		11,490
Options vested and exercisable as of June 30,2026		4,027,490			0.3077		6.96		9,617

There were 4,217,652, 680,000 and 1,149,000 options granted for the years ended June 30, 2024, 2025 and 2026. The weighted average grant date fair value of options granted for the years ended June 30, 2024, 2025 and 2026 were US$0.39, US$0.62 and US$0.93 per share, respectively.

For the year ended June 30, 2024, 2025 and 2026, share-based compensation expenses recognized associated with share options granted to directors and employees by the Company were nil, RMB1,305 and RMB6,099.

As of June 30, 2024, 2025 and 2026, there were RMB38,162, RMB14,939 and RMB5,682 of unrecognized share-based compensation expenses related to the share options granted. The expenses are expected to be recognized over a weighted-average period of 1.99 years, 2.05 years and 3.78 years, which may be adjusted for future change in forfeitures.

The estimated fair value of each option grant is estimated on the date of grant using the Binomial option-pricing model with the following assumptions:

	For the years ended June 30,
	2024			2025			2026

Expected volatility		81.85%-83.12	%		90.10%-91.20	%		59.30%-61.30	%
Risk-free interest rate (per annum)		3.84%-4.27	%		3.70%-4.30	%		4.20%-4.40	%
Expected dividend yield		0.00	%		0.00	%		0.00	%
Expected term (in years)		10			10			10
Fair value of the underlying shares on the date of option grants (US$)		0.53-1.20			0.38-0.80			0.71-3.01

(b)

Acquisition of equity interests from non-controlling shareholders

As discussed in Note 20, in connection with the acquisition of non-controlling interests of Shenzhen Letsvan in June 2025, the Group recognized RMB1,208 compensation expense, representing the difference between the consideration paid and the fair value of the non-controlling interests acquired.

(c)

Restricted shares issued to the Founder of Shenzhen Letsvan

As discussed in Note 20, in connection with the non-controlling interests held by Mr. Zhan in July 2025, the Group granted a total of 7,287,732 restricted shares to Mr. Zhan with service condition. The Group concluded that the grant of restricted shares to Mr. Zhan with service condition should be accounted for as share-based compensation in accordance with ASC 718. For the year ended June 30, 2026, the Group recognized RMB30,864 in share-based compensation expense.

Long-Term Investments - Schedule of Long Term Investments (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)
Long-Term Investments [Abstract]
Equity investment		¥ 20,362	¥ 28,254
Total	$ 3,001	¥ 20,362	¥ 28,254

Organization and Principal Activities - Schedule of the Elimination of Intercompany Balances and Transactions Among the VIEs and its Subsidiaries (Details) - VIE [Member] - CNY (¥) ¥ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Schedule of the Elimination of Intercompany Balances and Transactions Among the VIEs and its Subsidiaries [Line Items]
Net income from discontinued operation, net of income tax	¥ 172,441	¥ 124,212	¥ 69,773
Net cash used in operating activities from discontinued operation	(289,983)	(74,420)	(68,748)
Net cash (used in)/provided by investing activities from discontinued operation	985	(18,425)	(85,679)
Net cash provided by financing activities from discontinued operation		132,303	¥ 43,422
Current assets held for sale		665,253
Non-current assets held for sale		10,775
Current liabilities held for sale		649,753
Non-current liabilities held for sale		¥ 37,590

Summary of Significant Accounting Policies - Schedule of Group’s Revenues Disaggregated by Business Line (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 CNY (¥)
Schedule of Group’s Revenues Disaggregated by Business Line [Line Items]
Revenues disaggregated	$ 87,957	¥ 596,798	¥ 65,781
Revenue from sales of pop toy products [Member]
Schedule of Group’s Revenues Disaggregated by Business Line [Line Items]
Revenues disaggregated		592,675	65,781
Distributors [Member]
Schedule of Group’s Revenues Disaggregated by Business Line [Line Items]
Revenues disaggregated		446,274	51,953
Online platforms [Member]
Schedule of Group’s Revenues Disaggregated by Business Line [Line Items]
Revenues disaggregated		126,035	12,820
Self-Operated Offline Retail Stores and Roboshop Machines [Member]
Schedule of Group’s Revenues Disaggregated by Business Line [Line Items]
Revenues disaggregated		20,366	1,008
Others [Member]
Schedule of Group’s Revenues Disaggregated by Business Line [Line Items]
Revenues disaggregated		¥ 4,123

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Long-Term Investments

12 Months Ended

Jun. 30, 2026

Long-Term Investments [Abstract]

Long-term investments

16.

Long-term investments

Long term investments as of June 30, 2025 and 2026 consist of the following:

	As of June 30,
	2025		2026
	RMB		RMB

Equity investment (i)		28,254		20,362
Total		28,254		20,362

In March 2024, the Group entered into a partnership agreement with third party investors in China to form a limited partnership enterprise (the “Partnership Enterprise”) for future investing activities in China. In accordance with the agreement, the Group served as one of the limited partners and agreed to subscribe for 43.29% of the equity interests in the Partnership Enterprise by contributing a sum of RMB100,000 aggregately as the capital of the Partnership Enterprise. The Group applied equity method of accounting to this investment in accordance with ASC 323 because the Group has significant influence over the Partnership Enterprise but does not have a controlling financial interest. As of June 30, 2026, the carrying amount of the Group’s investment in the investee was RMB18,748.

Specifically, the Group acquired the equity interests of Shenzhen Letsvan held by the Partnership Enterprise among other noncontrolling shareholders in July 2025 (Note 20). As the Partnership Enterprise is also the Group’s equity method investee, the gain arising from the Group’s acquisition of the equity interests of Shenzhen Letsvan recognized by the Partnership Enterprise in its standalone financial statements should be eliminated in accordance with ASC 323-10-35-7 with a corresponding additional paid-in capital.

During the year ended June 30, 2025, the Group acquired Shenzhen Letsvan (Note 3), which held a 49% equity interest in a PRC private company (the “Investee”) and had the ability to exercise significant influence over the Investee. During the year ended June 30, 2026, the Group executed a share transfer agreement with a third party, pursuant to which the Group’s equity interest in the investee was reduced to 46.6%. As of June 30, 2026, the carrying amount of the Group’s investment in the investee was RMB1,614.

For the years ended June 30, 2025 and 2026, the Company recognized the share of profit from equity method investments of RMB1,165 and the share of loss from equity method investments of RMB3,529, respectively.

Taxation - Schedule of Component of Income Tax Expenses (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Schedule of Component of Income Tax Expenses [Line Items]
Loss before income tax benefits	$ (39,262)	¥ (266,399)	¥ (18,456)
Current tax benefits		49	(3,596)
Deferred tax expenses		11,415	246
Income tax (expense)/benefit	$ 1,690	11,464	(3,350)
Mainland China [Member]
Schedule of Component of Income Tax Expenses [Line Items]
Loss before income tax benefits		(219,032)	(17,917)
Current tax benefits		121	(3,596)
Deferred tax expenses		11,415	246
Income tax (expense)/benefit		11,536	(3,350)
Hongkong [Member]
Schedule of Component of Income Tax Expenses [Line Items]
Loss before income tax benefits		(7,231)	1,712
Current tax benefits
Deferred tax expenses
Income tax (expense)/benefit
Others [Member]
Schedule of Component of Income Tax Expenses [Line Items]
Loss before income tax benefits		(40,136)	(2,251)
Current tax benefits		(72)
Deferred tax expenses
Income tax (expense)/benefit		¥ (72)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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Summary of Significant Accounting Policies [Abstract]

Accounting Policies, by Policy (Policies)

12 Months Ended

Jun. 30, 2026

Basis of presentation

(a)

Basis of presentation

Comparability and Reclassification Adjustment

Principles of consolidation

(b)

Principles of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries, and the consolidated VIEs (including the VIEs’ subsidiaries).

All significant intercompany transactions and balances between the Company, its subsidiaries and the consolidated VIEs have been eliminated upon consolidation.

Use of estimates

(c)

Use of estimates

Functional currency and foreign currency translation

(d)

Functional currency and foreign currency translation

Convenience translation

(e)

Convenience translation

Cash and cash equivalents

(f)

Cash and cash equivalents

Restricted cash

(g)

Restricted cash

Accounts receivable

(h)

Accounts receivable

Accounts receivable are recorded at the invoiced amount and do not bear interest. Accounts receivable mainly represent receivable from sales of pop toy products.

The Group’s other receivables which were recorded as a component of the prepaid expenses and other current assets and other non-current assets are within the scope of ASC Topic 326.

Inventories, net

(i)

Inventories, net

Fair value measurement

(j)

Fair value measurement

●

Level 1 applies to assets or liabilities for which there are quoted prices, in active markets for identical assets or liabilities.

●

Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Group’s non-financial assets, such as property and equipment, intangible assets and goodwill, would be measured at fair value only if they were determined to be impaired.

Prepayments and other current assets

(k)

Short-term investments

(l)

Prepayments and other current assets

Property and equipment, net

(m)

Property and equipment, net

Category		Estimated useful life

Leasehold improvements		Shorter of the lease term or estimated economic life
Computer and electronic equipment		3 years
Molds		3-5 years
Furniture		3-5 years
Motor vehicles		4 years

Intangible assets

(n)

Intangible assets

Category		Estimated useful life

Software		1 year to 2 years
Intellectual property rights (“IP Rights”)		10 years
Licensed intellectual properties (“Licensed IPs”)		2-10 years
Channel relationship		3 years

Goodwill

(o)

Goodwill

Long-term investments

(p)

Long-term investments

Impairment of long-lived assets other than goodwill and indefinite-lived intangible assets

(q)

Impairment of long-lived assets other than goodwill and indefinite-lived intangible assets

Operating Leases

(r)

Operating Leases

Treasury stock

(s)

Treasury stock

Net (loss)/income per ordinary share

(t)

Net (loss)/income per ordinary share

The shares repurchased by the Company are excluded from the number of shares outstanding for purposes of computing basic and diluted net (loss)/income per ordinary share in accordance with ASC 260.

Non-controlling interests

(u)

Non-controlling interests

Business combination

(v)

Business combination

Discontinued operation

(w)

Discontinued operation

Revenue recognition

(x)

Revenue recognition

Identification of the contract, or contracts, with a customer;

Identification of the performance obligations in the contract;

Determination of the transaction price, including the constraint on variable consideration;

Allocation of the transaction price to the performance obligations in the contract;

Recognition of revenue when (or as) the Group satisfies a performance obligation.

Practical expedients

The Group has used the following practical expedients as allowed under ASC 606:

(i)

(ii)

The Group expenses the costs to obtain a contract as incurred when the expected amortization period is one year or less.

Contract balances

Contract liability is related to the payments received by the Group in advance from customers

before the control of the products transferred or the services rendered.

Revenue Disaggregation

The following table sets forth a breakdown of the Group’s revenues disaggregated by business line:

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Revenue from sales of pop toy products		-		65,781		592,675
-Distributors		-		51,953		446,274
-Online platforms		-		12,820		126,035
-Self-operated offline retail stores and roboshop machines		-		1,008		20,366
Others		-		-		4,123
Total revenues		-		65,781		596,798

Cost of revenues

(y)

Cost of revenues

Sales and marketing expenses

(z)

Sales and marketing expenses

General and administrative expenses

(aa)

General and administrative expenses

Research and development expenses

(ab)

Research and development expenses

Share-based compensation expenses

(ac)

Share-based compensation expenses

Employee benefits

(ad)

Employee benefits

Taxation

(ae)

Taxation

Income taxes

Value added Tax (“VAT”)

Comprehensive income

(af)

Comprehensive income

Segment reporting

(ag)

Segment reporting

As the Group’s long-lived assets are substantially all located in the PRC and substantial portion of the Group’s revenues are derived from the PRC, no geographical segments are presented.

Impact of newly adopted accounting pronouncement

(ah)

Impact of newly adopted accounting pronouncement

Recently issued accounting pronouncements not yet adopted

(ai)

Recently issued accounting pronouncements not yet adopted

Summary of Significant Accounting Policies - Schedule of Property and Equipment, Net Estimated Useful Lives (Details)	Jun. 30, 2026
Leasehold improvement [Member]
Schedule of Property and Equipment, Net Estimated Useful Lives [Line Items]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	Shorter of the lease term or estimated economic life
Computer and electronic equipment [Member]
Schedule of Property and Equipment, Net Estimated Useful Lives [Line Items]
Estimated useful life	3 years
Molds [Member] \| Minimum [Member]
Schedule of Property and Equipment, Net Estimated Useful Lives [Line Items]
Estimated useful life	3 years
Molds [Member] \| Maximum [Member]
Schedule of Property and Equipment, Net Estimated Useful Lives [Line Items]
Estimated useful life	5 years
Furniture [Member] \| Minimum [Member]
Schedule of Property and Equipment, Net Estimated Useful Lives [Line Items]
Estimated useful life	3 years
Furniture [Member] \| Maximum [Member]
Schedule of Property and Equipment, Net Estimated Useful Lives [Line Items]
Estimated useful life	5 years
Motor vehicles [Member]
Schedule of Property and Equipment, Net Estimated Useful Lives [Line Items]
Estimated useful life	4 years

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Jun. 30, 2026

Accrued Expenses and Other Current Liabilities [Abstract]

Schedule of Outstanding Accrued Expenses and Other Current Liabilities

The following table summarizes the Group’s outstanding accrued expenses and other current liabilities as of June 30, 2025 and 2026, respectively:

	As of June 30,
	2025		2026
	RMB		RMB

Accrued employee payroll and welfare benefits		34,115		27,115
Other accrued expense		9,562		13,662
Other tax payable		8,711		8,648
Payable to employees related to share option exercise proceeds		13,780		20
Total accrued expenses and other current liabilities		66,168		49,445

Property and equipment, net

12 Months Ended

Jun. 30, 2026

Property and Equipment, Net [Abstract]

Property and equipment, net

Property and equipment, net as of June 30, 2025 and 2026, consist of the following:

	As of June 30,
	2025			2026
	RMB			RMB

Molds		8,938			17,243
Leasehold improvements		4,172			11,082
Computer and electronic equipment		4,016			6,312
Others		355			281
Total		17,481			34,918
Less: Accumulated depreciation		(7,546	)		(12,552	)
Property and equipment, net		9,935			22,366

Depreciation expenses for the years ended June 30, 2024, 2025 and 2026 were nil, RMB1,030 and RMB8,953 respectively.

The entire disclosure for property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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Schedule of Net Accounts Receivable

Concentration and Risks (Tables)

12 Months Ended

Jun. 30, 2026

Concentration and Risks [Abstract]

There were three and two customers individually accounted for more than 10% of the Group’s net accounts receivable as of June 30, 2025 and 2026, respectively.

	As of June 30,
Accounts receivables, net	2025			2026

Customer A		32.8	%		34.0	%
Customer B		23.0	%		*
Customer C		12.8	%		*
Customer D		*			11.7	%

*	The percentage was below 10% for the period.

Restricted Net Assets and Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Jun. 30, 2026

Restricted Net Assets and Parent Company Only Condensed Financial Information [Abstract]

Schedule of Condensed Balance Sheets

Condensed balance sheets

	As of June 30,
	2025			2026			2026
	RMB			RMB			US$

ASSETS
Current assets:
Cash and cash equivalents		61,483			24,637			3,631
Short-term investments		124			54			8
Amounts due from intra-Group companies		89,638			70,486			10,388
Prepayments and other current assets		26,497			24,637			3,632
Total current assets		177,742			119,814			17,659
Investment in subsidiaries		707,892			594,879			87,674
Total non-current assets		707,892			594,879			87,674
TOTAL ASSETS		885,634			714,693			105,333
Accrued expenses and other current liabilities		300			396			58
Amounts due to intra-Group companies		64,820			85,578			12,613
Total current liabilities		65,120			85,974			12,671
Net liabilities of the VIE		11,517			-			-
Total non-current liabilities		11,517			-			-
TOTAL LIABILITIES		76,637			85,974			12,671
SHAREHOLDERS’ EQUITY
Class A ordinary shares		81			81			12
Class B ordinary shares		34			34			5
Treasury stock		(49,054	)		(121,020	)		(17,836	)
Additional paid-in capital		1,066,860			900,672			132,743
Accumulated other comprehensive income		16,507			11,950			1,761
Accumulated deficit		(225,431	)		(162,998	)		(24,023	)
TOTAL SHAREHOLDERS’ EQUITY		808,997			628,719			92,662
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		885,634			714,693			105,333

Schedule of Condensed Statements of Operations and Comprehensive Income

Condensed statements of operations and comprehensive income

	For the years ended June 30,
	2024			2025			2026			2026
	RMB			RMB			RMB			US$

Revenues		-			-			-			-
Cost of revenues		-			(905	)		(393	)		(58	)
Gross Profit		-			(905	)		(393	)		(58	)
Operating expenses:
Sales and marketing expenses		-			141			(577	)		(85	)
Research and development expenses		-			15			(197	)		(29	)
General and administrative expenses		-			(2,445	)		(41,675	)		(6,142	)
Total operating expenses		-			(2,289	)		(42,449	)		(6,256	)
Loss from operations		-			(3,194	)		(42,842	)		(6,314	)
Other income:
Interest income		-			525			1,009			149
Others, net		-			536			1,936			285
Share of loss from subsidiaries		-			(19,673	)		(215,038	)		(31,692	)
Loss before income tax		-			(21,806	)		(254,935	)		(37,572	)
Income tax expense		-			-			-			-
Net loss from continuing operations, net of income tax		-			(21,806	)		(254,935	)		(37,572	)
Net income from discontinued operation, net of income tax		385,527			378,374			318,451			46,934
Net income		385,527			356,568			63,516			9,362

Net income		385,527			356,568			63,516			9,362
Other comprehensive loss
Foreign currency translation adjustments, net of nil tax		(4,869	)		(806	)		(4,557	)		(672	)
Total other comprehensive loss		(4,869	)		(806	)		(4,557	)		(672	)
Total comprehensive income		380,658			355,762			58,959			8,690

Schedule of Condensed Statements of Cash Flows

Condensed statements of cash flows

	For the years ended June 30,
	2024			2025			2026			2026
	RMB			RMB			RMB			US$

Net cash (used in)/provided by operating activities		(8,427	)		104			9,551			1,409

Cash flows from investing activities:
Loan provided to subsidiaries		(117,217	)		(56,763	)		(514	)		(76	)
Loan repaid by subsidiaries		235,424			30,009			9,104			1,342
Proceeds from short-term investments		59,520			58,132			-			-
Net cash provided by investing activities		177,727			31,378			8,590			1,266

Cash flows from financing activities:
Loan from subsidiaries		-			170,707			88,207			13,000
Repayments of loan from subsidiaries		-			(108,874	)		(69,702	)		(10,273	)
Proceeds from exercise of share options		2,467			7,696			5,619			828
Repurchase of ADSs		(130,409	)		(25,771	)		(76,976	)		(11,345	)
Dividends paid to equity holders of the Company		-			(78,111	)		-			-
Net cash used in financing activities		(127,942	)		(34,353	)		(52,852	)		(7,790	)
Effect of exchange rate changes on cash and cash equivalents		(138	)		(335	)		(2,135	)		(315	)
Net increase/(decrease) in cash and cash equivalents		41,220			(3,206	)		(36,846	)		(5,430	)
Cash and cash equivalents at beginning of the year		23,469			64,689			61,483			9,061
Cash and cash equivalents at end of the year		64,689			61,483			24,637			3,631

Goodwill (Tables)

12 Months Ended

Jun. 30, 2026

Goodwill [Abstract]

Schedule of Goodwill

	Total
	RMB

Gross carrying value
As of June 30, 2024		-
Addition (Note 3)		187,598
As of June 30, 2025		187,598
Addition		-
As of June 30, 2026		187,598

	Total
	RMB

Accumulated impairment
As of June 30, 2024		-
Impairment		-
As of June 30, 2025		-
Impairment		(124,059	)
As of June 30, 2026		(124,059	)

Net carrying value
As of June 30, 2024			-
As of June 30, 2025			187,598
As of June 30, 2026			63,539

Tabular disclosure of goodwill.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Net Income/(Loss) Per Share [Abstract]

Share Based Compensation Expenses - Schedule of Share Based Compensation Expenses (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Included in:
Share based compensation expenses	¥ 36,963	¥ 2,513
Location, Statement of Income, Balance [Axis]: us-gaap:CostOfRevenue
Included in:
Share based compensation expenses	195	(11)
Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense
Included in:
Share based compensation expenses	35,865	2,349
Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Included in:
Share based compensation expenses	248	77
Location, Statement of Income, Balance [Axis]: us-gaap:SellingAndMarketingExpense
Included in:
Share based compensation expenses	655	98
Share options [Member]
Included in:
Share based compensation expenses	6,099	1,305
Acquisition of equity interests from non-controlling shareholders [Member]
Included in:
Share based compensation expenses		1,208
Restricted shares issued to the Founder of Shenzhen Letsvan [Member]
Included in:
Share based compensation expenses	¥ 30,864

Net Income/(Loss) Per Share (Tables)

12 Months Ended

Jun. 30, 2026

Schedule of Basic and Diluted Net Income/(Loss) Per Share

Basic net income/(loss) per share and diluted net income/(loss) per share were calculated in accordance with ASC 260 Earnings per share for the years ended June 30, 2024, 2025 and 2026 as below:

	For the years ended June 30,
	2024		2025			2026
	RMB		RMB			RMB

Numerator:
Net income for discontinued operation		385,527		378,374			318,451
Net income attributable to noncontrolling interests		-		(3	)		(12	)
Net income from discontinued operation attributable to ordinary shareholders of Here Group Limited		385,527		378,371			318,439
Denominator:
Weighted average number of ordinary shares outstanding (i)
— basic		164,998,649		161,291,663			161,393,281
— diluted		164,998,649		161,291,663			161,393,281
Net income from discontinued operation per ordinary share attributable to ordinary shareholders of Here Group Limited
— basic		2.34		2.35			1.97
— diluted		2.34		2.35			1.97

Numerator:
Net loss for continuing operations		-		(21,806	)		(254,935	)
Net loss/(income) attributable to noncontrolling interests		-		2,165			(1,071	)
Net loss from continuing operations attributable to ordinary shareholders of Here Group Limited		-		(19,641	)		(256,006	)
Denominator:
Weighted average number of ordinary shares outstanding (i)
— basic		164,998,649		161,291,663			161,393,281
— diluted		164,998,649		161,291,663			161,393,281
Net loss from continuing operations per ordinary share attributable to ordinary shareholders of Here Group Limited
— basic		-		(0.12	)		(1.59	)
— diluted		-		(0.12	)		(1.59	)

(i)	Basic and diluted net income/(loss) per share are computed using the weighted average number of ordinary shares outstanding during the period, including 3,092,516, 810,696 and 60,009 vested options with nominal exercise price for the years ended June 30, 2024, 2025 and 2026.

Short-Term Investments (Tables)

12 Months Ended

Jun. 30, 2026

Short-Term Investments [Abstract]

Schedule of the Fair Value Hierarchy for the Group’s Short-Term Investments

The following table presents the fair value hierarchy for the Group’s short-term investments that are measured and recorded at fair value on a recurring basis as of June 30, 2025 and 2026:

June 30, 2025	Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Balance at Fair Value
	RMB		RMB		RMB		RMB

Assets
Wealth management products⁽ⁱ⁾		-		131,502		-		131,502
Equity securities of publicly listed companies		8,488		-		-		8,488
Total		8,488		131,502		-		139,990

June 30, 2026	Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Balance at Fair Value
	RMB		RMB		RMB		RMB

Assets
Wealth management products⁽ⁱ⁾		-		170,143		-		170,143
Equity securities of publicly listed companies		8,080		-		-		8,080
Total		8,080		170,143		-		178,223

(i)

The Group’s short-term investments in wealth management products were issued by financial institutions in the PRC and Hong Kong with variable returns indexed to the performance of underlying assets. The wealth management products invested by the Group can be redeemed at any time after the respective lock-up period. To estimate the fair value of wealth management products, the Group uses the quoted net asset values published by the financial institutions. As there are no quoted prices in active markets for the investments, the Company classifies the valuation techniques that use these inputs as Level 2 of fair value measurement.

Prepayments and Other Current Assets

12 Months Ended

Jun. 30, 2026

Prepayments and Other Current Assets [Abstract]

Prepayments and other current assets

Prepaid expenses and other current assets, as of June 30, 2025 and 2026, consist of the following:

	As of June 30,
	2025		2026
	RMB		RMB

Consideration receivable for the disposal of Divested Business		-		77,407
Receivables from third party payment platforms ⁽ⁱ⁾		5,536		8,382
Receivables from e-commerce platforms ⁽ⁱⁱ⁾		4,688		9,423
Prepaid service fees		4,066		10,102
Receivables from financial institutions security account⁽ⁱⁱⁱ⁾		19,849		5,030
Deposits		9,994		2,260
Receivables from ESOP platform for share option exercise Proceeds (on behalf of employees)		18,145		193
Prepayments for products procurement		4,954		265
Others		6,202		10,956
Total		73,434		124,018

(i)	Receivables from third-party payment platforms represent the considerations received and held by the third-party payment platforms. The Group subsequently transferred the full receivables from the third-party payment platforms to its bank accounts.

(ii)	Receivables from e-commerce platforms represent the considerations for pop toy products sold on e-commerce platforms that have been delivered to the end customers but not yet settled by the e-commerce platforms.

(iii)

Receivables from financial institutions security account consists of deposit in financial institutions security account for share repurchase purposes.

Goodwill (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
Goodwill (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Goodwill [Abstract]
Percentage reporting unit	12.70%	12.70%
Impairment loss on goodwill	$ 18,284	¥ 124,059

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

Schedule of Intangible Assets, Net

Document And Entity Information	12 Months Ended
Document And Entity Information	Jun. 30, 2026 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Document Shell Company Report	false
Entity Interactive Data Current	Yes
Document Accounting Standard	U.S. GAAP
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Jun. 30, 2026
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	No
Entity Registrant Name	Here Group Limited
Entity Central Index Key	0001932770
Entity File Number	001-41590
Entity Voluntary Filers	No
Entity Incorporation, State or Country Code	E9
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Address, Address Line One	RM 3008
Entity Address, Address Line Two	30/FTWO EXCHANGE SQUARE
Entity Address, Address Line Three	8 CONNAUGHT PLACE
Entity Address, City or Town	CENTRAL
Entity Address, Country	HK
Entity Address, Postal Zip Code	000000
American depositary shares, each representing three Class A ordinary shares, par value US$0.0001 per share
Document Information [Line Items]
Title of 12(b) Security	American depositary shares, each representing three Class A ordinary shares, par value US$0.0001 per share
Trading Symbol	HERE
Security Exchange Name	NASDAQ
Class A ordinary shares, par value US$0.0001 per share
Document Information [Line Items]
Title of 12(b) Security	Class A ordinary shares, par value US$0.0001 per share
Class A Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	107,883,184
Class B Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	49,859,049
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	Room 3008
Entity Address, Address Line Two	30/FTwo Exchange Square
Entity Address, Address Line Three	8 Connaught Place
Entity Address, City or Town	Central
Entity Address, Country	HK
Entity Address, Postal Zip Code	000000
City Area Code	+852
Local Phone Number	2988 8279
Contact Personnel Name	Dong Xie
Contact Personnel Email Address	timxie@heregroup.com

Noncontrolling Interests and Noncontrolling Interests with Liquidation Preferences (Details) - CNY (¥) ¥ in Thousands	1 Months Ended
	Jul. 31, 2025	Jun. 30, 2025	Jun. 30, 2026
Mr. Zhan [Member]
Noncontrolling Interests and Noncontrolling Interests with Liquidation Preferences [Line Items]
Fair value of the equity interests value	¥ 144,100
Restricted Shares [Member] \| Mr. Zhan [Member]
Noncontrolling Interests and Noncontrolling Interests with Liquidation Preferences [Line Items]
Number of shares settled	7,287,732
Class A Ordinary Shares [Member] \| Mr. Zhan [Member]
Noncontrolling Interests and Noncontrolling Interests with Liquidation Preferences [Line Items]
Number of shares settled	18,219,330
Mr. Huiyu Zhan, or Mr. Zhan [Member]
Noncontrolling Interests and Noncontrolling Interests with Liquidation Preferences [Line Items]
Fair value of the equity interests value	¥ 80,500
Shenzhen Letsvan [Member]
Noncontrolling Interests and Noncontrolling Interests with Liquidation Preferences [Line Items]
Equity method ownership, percentage		2.50%	76.30%
Total cash consideration	¥ 128,100	¥ 9,800
Fair value of the equity interests value		¥ 1,208

Intangible assets, net (Tables)

12 Months Ended

Jun. 30, 2026

Intangible Assets, Net [Abstract]

Intangible assets, net, as of June 30, 2025 and 2026, consist of the following:

	As of June 30,
	2025			2026
	RMB			RMB

IP Rights		49,914			50,230
Channel relationship		19,000			19,000
Brand		-			6,311
Software		65			-
Total		68,979			75,541
Less: accumulated amortization		(3,041	)		(14,316	)
Intangible assets, net		65,938			61,225

Short-term borrowings

12 Months Ended

Jun. 30, 2026

Short-Term Borrowings [Abstract]

Short-term borrowings

11.

Short-term borrowings

As of June 30, 2025, the Group’s short-term borrowings primarily consisted of (i) an unsecured revolving credit line for a total credit of up to RMB6,000, in which all the credit line of RMB6,000 was drawn down and outstanding as short-term loans, bearing an interest rate of 2.22% per annum and maturing in November 2025; and (ii) a secured loan with carrying amount of RMB5,100 and a fixed interest rate of 2.95% per annum and a monthly payment schedule of RMB300, which was guaranteed by a third party guarantee company and the founder of Shenzhen Letsvan and secured by certain intellectual property certificates of the Group and is due in March 2026. The Group fully settled all outstanding borrowings during the year ended June 30, 2026. As of June 30, 2026, the Group had no outstanding borrowings.

Intangible assets, net - Schedule of Intangible Assets, Net (Details) - CNY (¥) ¥ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Schedule of Intangible Assets, Net [Line Items]
Finite-Lived Intangible Assets, Gross	¥ 75,541	¥ 68,979
Less: accumulated amortization	(14,316)	(3,041)
Intangible assets, net	61,225	65,938
IP Rights [Member]
Schedule of Intangible Assets, Net [Line Items]
Finite-Lived Intangible Assets, Gross	50,230	49,914
Channel relationship [Member]
Schedule of Intangible Assets, Net [Line Items]
Finite-Lived Intangible Assets, Gross	19,000	19,000
Brand [Member]
Schedule of Intangible Assets, Net [Line Items]
Finite-Lived Intangible Assets, Gross	6,311
Software
Schedule of Intangible Assets, Net [Line Items]
Finite-Lived Intangible Assets, Gross		¥ 65

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Schedule of Operating Leases Related Assets and Lease Liability

Lease (Tables)

12 Months Ended

Jun. 30, 2026

Lease [Abstract]

For operating leases with terms greater than twelve months, the Group records the related assets and lease liability at the present value of lease payments over the terms.

	As of June 30,
	2025		2026
	RMB		RMB

Operating lease right-of-use assets, net		12,504		35,438
Operating lease liabilities-current		9,482		18,532
Operating lease liabilities-non-current		4,617		16,248

The following table provides a summary of the Group’s operating lease expenses and short-term lease expenses as of June 30, 2024, 2025 and 2026:

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Operating lease expenses		-		1,202		14,272
Short-term lease expenses		-		106		4,490

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Cash paid for amounts included in the measurement of operating lease liabilities		-		5,964		18,919
Right-of-use assets obtained in exchange for operating lease obligations		-		2,193		42,854

The following table provides a summary of the Group’s operating lease terms and discount rates as of June 30, 2025 and 2026:

	As of June 30,
	2025			2026

Weighted average remaining lease term (in years)		0.96			2.03
Weighted average discount rate		4.52	%		3.25	%

Schedule of Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of June 30, 2026 were as follows:

	Amounts
	RMB

For the year ended June 30, 2027		19,384
For the year ended June 30, 2028		13,482
For the year ended June 30, 2029		3,110
Total operating lease payments		35,976
Less: imputed interest		(1,196	)
Present value of operating lease liabilities		34,780

Short-Term Investments

12 Months Ended

Jun. 30, 2026

Short-Term Investments [Abstract]

Schedule of Purchase Price

15.

Short-term investments

The following table presents the fair value hierarchy for the Group’s short-term investments that are measured and recorded at fair value on a recurring basis as of June 30, 2025 and 2026:

June 30, 2025	Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Balance at Fair Value
	RMB		RMB		RMB		RMB

Assets
Wealth management products⁽ⁱ⁾		-		131,502		-		131,502
Equity securities of publicly listed companies		8,488		-		-		8,488
Total		8,488		131,502		-		139,990

June 30, 2026	Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Balance at Fair Value
	RMB		RMB		RMB		RMB

Assets
Wealth management products⁽ⁱ⁾		-		170,143		-		170,143
Equity securities of publicly listed companies		8,080		-		-		8,080
Total		8,080		170,143		-		178,223

(i)

For the years ended June 30, 2024, 2025 and 2026, the Company recorded gains or losses resulting from changes in the fair values of short-term investments in the line item “Others, net” in the consolidated statements of operations and comprehensive income. As of June 30, 2025 and 2026, none of these short-term investments were frozen, guaranteed or subject to other restrictions.

Business Combination (Tables)

12 Months Ended

Jun. 30, 2026

Business Combination [Abstract]

The following is a summary of the fair value of the purchase price and the final allocation of the purchase price to the assets acquired and liabilities assumed:

	RMB

Cash and cash equivalents		93,450
Short-term investments		20,000
Accounts receivable, net		23,100
Other current assets		24,968
Property and equipment, net		7,488
Newly identified intangible assets (IP Rights)		49,000
Newly identified intangible assets (channel relationship)		19,000
Goodwill		187,598
Other non-current assets		7,423
Short-term borrowings		(14,500	)
Other current liabilities		(22,223	)
Other non-current liabilities		(1,155	)
Deferred tax liabilities		(17,000	)
Non-controlling interests-equity		(93,041	)
Non-controlling interests- mezzanine equity		(40,999	)
Total purchase consideration		243,109
Total purchase price is comprised of:
-Cash		200,000
-Fair value of previously held equity interests		43,109
Total		243,109

Schedule of Supplemental Pro Forma Information

This supplemental pro forma information is presented for illustrative purposes only. It is based on historical information and does not purport to represent the actual results that may have occurred had the Company consummated the acquisitions on July 1, 2023, nor is it necessarily indicative of future results of operations of the consolidated enterprises:

	For the years ended June 30,
	2024		2025
	RMB		RMB

Pro forma total net revenues		126,634		163,473
Pro forma net income		404,094		334,774

Related Party Transactions - Schedule of Outstanding Balance Due from/to Related Parties (Details)
¥ in Thousands, $ in Thousands

Jun. 30, 2026

USD ($)

Jun. 30, 2026

CNY (¥)

Jun. 30, 2025

CNY (¥)

Yuhuatongxing [Member]

Schedule of Outstanding Balance Due from/to Related Parties [Line Items]

An Equity Investee Of The Group [Member]

^[1]

¥ 8,933

¥ 1,440

Due to related parties

^[1]

17,637

2,621

Schedule of Outstanding Balance Due from/to Related Parties [Line Items]

Schedule of Outstanding Balance Due from/to Related Parties [Line Items]

108

137

Mr. Zhan [Member]

Non-controlling shareholder [Member]

^[2]

17,190

Schedule of Outstanding Balance Due from/to Related Parties [Line Items]

Due to related parties

^[3]

700

Related Party [Member]

Schedule of Outstanding Balance Due from/to Related Parties [Line Items]

26,231

1,577

Due to related parties

$ 2,599

¥ 17,637

¥ 3,321

[1]

(1)

Yuhuatongxing acts as an authorized distributor of the Group and pays the Group for the pop toy products purchased.

Yuhuatongxing receives service fees from the Group for the provision of promotion services.

[2]

(3)

[3]

(2)

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Related Party Transactions - Schedule of Material Related Party Transactions (Details)	12 Months Ended
	Jun. 30, 2026
Mr. Huiyu Zhan [Member]
Schedule of Material Related Party Transactions [Line Items]
Name of related parties	Mr. Huiyu Zhan
Relationship with the Group	The Founder of Shenzhen Letsvan
Yuhuatongxing (Beijing) Cultural Development Co., Ltd. (“Yuhuatongxing”) [Member]
Schedule of Material Related Party Transactions [Line Items]
Name of related parties	Yuhuatongxing (Beijing) Cultural Development Co., Ltd. (“Yuhuatongxing”)
Relationship with the Group	Entity significantly influenced by the Group
Nanjing Shangdehehua Equity Investment Partnership (Limited Partnership) (“Nanjing Shangde Hehua”) [Member]
Schedule of Material Related Party Transactions [Line Items]
Name of related parties	Nanjing Shangdehehua Equity Investment Partnership (Limited Partnership) (“Nanjing Shangde Hehua”)
Relationship with the Group	Entity significantly influenced by the Group

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Schedule of Accounts Receivable , Net

Accounts Receivable, Net (Tables)

12 Months Ended

Jun. 30, 2026

Accounts Receivable, Net [Abstract]

The accounts receivable, net, as of June 30, 2025 and 2026, consists of the following:

	As of June 30,
	2025			2026
	RMB			RMB

Sales of pop toy products		29,909			18,208
Others		28			-
Accounts receivable		29,937			18,208
Less: allowance for credit losses		(432	)		(1,348	)
Accounts receivable, net		29,505			16,860

Schedule of Allowance for Credit Losses

The movements in the allowance for credit losses are as follows:

	For the years ended June 30,
	2025			2026
	RMB			RMB

Balance at beginning of the year		-			(432	)
Additions		(432	)		(916	)
Write-offs		-			-
Balance at end of the year		(432	)		(1,348	)

Restricted Net Assets and Parent Company Only Condensed Financial Information - Schedule of Condensed Statements of Cash Flows (Details) - Parent Company [Member] ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Schedule of Condensed Statements of Cash Flows [Line Items]
Net cash (used in)/provided by operating activities	$ 1,409	¥ 9,551	¥ 104	¥ (8,427)
Cash flows from investing activities:
Loan provided to subsidiaries	(76)	(514)	(56,763)	(117,217)
Loan repaid by subsidiaries	1,342	9,104	30,009	235,424
Proceeds from short-term investments			58,132	59,520
Net cash provided by investing activities	1,266	8,590	31,378	177,727
Cash flows from financing activities:
Loan from subsidiaries	13,000	88,207	170,707
Repayments of loan from subsidiaries	(10,273)	(69,702)	(108,874)
Proceeds from exercise of share options	828	5,619	7,696	2,467
Repurchase of ADSs	(11,345)	(76,976)	(25,771)	(130,409)
Dividends paid to equity holders of the Company			(78,111)
Net cash used in financing activities	(7,790)	(52,852)	(34,353)	(127,942)
Effect of exchange rate changes on cash and cash equivalents	(315)	(2,135)	(335)	(138)
Net increase/(decrease) in cash and cash equivalents	(5,430)	(36,846)	(3,206)	41,220
Cash and cash equivalents and restricted cash at the beginning of the year	9,061	61,483	64,689	23,469
Cash, cash equivalents and restricted cash at the end of the year	$ 3,631	¥ 24,637	¥ 61,483	¥ 64,689

Goodwill - Schedule of Goodwill (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Gross carrying value
Beginning balance		¥ 187,598
Addition			187,598
Ending balance		187,598	187,598
Accumulated impairment
Beginning balance
Impairment	$ (18,284)	(124,059)
Ending balance		(124,059)
Net carrying value
Beginning balance		187,598
Ending balance	$ 9,364	¥ 63,539	¥ 187,598

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

Accounts Payables

12 Months Ended

Jun. 30, 2026

Accounts Payables [Abstract]

Accounts payables

12.

Accounts payable

Accounts payable represent liabilities for services provided to and products purchased by the Group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 60 days of recognition. Accounts payable are mainly comprised of payable for purchase of raw materials and finished goods from third parties and warehousing and logistics services expenses payable as of June 30, 2025 and 2026.

Special Cash Dividends

12 Months Ended

Jun. 30, 2026

Special Cash Dividends [Abstract]

Special cash dividends

23.

Special cash dividends

In October, 2024, the Company declared a special cash dividend in the amount of US$0.067 per ordinary share, or US$0.201 per ADS. The aggregate amount of the special dividend was approximately US$10.9 million, which was fully paid out from the share premium account of the Company in November 2024. Dividends are recognized as reduction of additional paid-in capital when declared.

No dividends had been declared by the Company for the year ended June 30, 2026.

The entire disclosure of restriction on payment of dividend. Includes, but is not limited to, statutory restriction as prescribed by National Association of Insurance Commissioners or state regulatory authority.

Taxation - Schedule of Deferred Tax Assets and Liabilities (Details) - CNY (¥) ¥ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Deferred tax assets:
Allowances of credit losses	¥ 350
Allowance for inventory valuation allowance	361
Operating lease liabilities	6,227	1,509
Accrued liability	144
Deductible temporary difference related to advertising expenses	269
Net operating tax losses carried forward	21,645	783
Subtotal	28,996	2,292
Less: valuation allowance	(12,760)	(465)
Total deferred tax assets, net	16,236	1,827
Deferred tax liabilities:
Receivables of consideration for Divested Business	28,774
Operating lease right-of-use assets	6,394	1,694
Newly identified intangible assets arising from business combination	13,442	16,259
Unrealized investment income	(222)	297
Withholding tax on undistributed earnings	86,478	55,591
Total deferred tax liabilities	¥ 134,866	¥ 73,841

Discontinued Operation

12 Months Ended

Jun. 30, 2026

Discontinued Operation [Abstract]

Discontinued operation

As described in Note 1(a), on September 30, 2025, the Group disposed the Divested Business for an aggregate cash consideration of approximately equivalent to RMB180 million (the “Disposal”).

The Disposal was accounted for as discontinued operation in accordance with ASC 205-20 since it represents a strategic shift that has a major effect on the Group’s operations and financial results. On September 30, 2025, the Group lost its control over the Divested Business and accordingly, the Company deconsolidated the Divested Business from its consolidated financial statements on September 30, 2025. Accordingly, the historical financial results of the Divested Business are reflected in the Group’s consolidated statements of operations and comprehensive income as discontinued operation for all periods presented, and the related assets and liabilities associated with discontinued operation in the prior year consolidated balance sheets are classified as assets/liabilities held for sale to provide the comparable financial information.

	As of June 30, 2025
	RMB

ASSETS
Current assets:
Cash and cash equivalents		357,216
Restricted cash		308
Short-term investments		49,707
Accounts receivable, net		16,388
Inventories, net		5,232
Prepayments and other current assets		129,465
Total current assets		558,316

Non-current assets:
Property and equipment, net		1,357
Long-term investments		30,812
Operating lease right-of-use assets		7,394
Other non-current assets		3,501
Total non-current assets		43,064

LIABILITIES
Current liabilities:
Accounts payable		34,373
Accrued expenses and other current liabilities		85,638
Income tax payable		22,000
Contract liabilities, current portion		236,425
Advance from customers		113,134
Operating lease liabilities, current		6,946
Total current liabilities		498,516

Non-current liabilities:
Contract liabilities, non-current portion		35,485
Operating lease liabilities, non-current		2,399
Deferred tax liabilities		28
Total non-current liabilities		37,912

	For the years ended June 30,						For the period from July 1, 2025 to September 30,
	2024			2025			2025
	RMB			RMB			RMB

Revenues		3,795,331			2,659,811			403,422
Cost of revenues		(550,310	)		(460,763	)		(77,452	)
Gross profit		3,245,021			2,199,048			325,970
Operating expenses:
Sales and marketing expenses		(2,586,977	)		(1,592,153	)		(182,302	)
Research and development expenses		(144,868	)		(89,515	)		(4,376	)
General and administrative expenses		(125,765	)		(95,499	)		(5,922	)
Impairment loss on long-lived assets		(2,652	)		-			-
Impairment loss on goodwill		(7,389	)		-			-
Total operating expenses		(2,867,651	)		(1,777,167	)		(192,600	)
Income from operations		377,370			421,881			133,370
Other income:
Interest income		10,520			4,203			77
Remeasurement gain of previously held equity interests in connection with step acquisition		-			8,109			-
Others, net		28,965			53,750			3,562
Pretax income from discontinued operation related to major classes of pretax profit		416,855			487,943			137,009
Pretax gain on disposal of discontinued operation*		-			-			284,737
Total pretax gain on discontinued operation		416,855			487,943			421,746
Income tax expense		(31,328	)		(109,569	)		(103,295	)
Net income from discontinued operation, net of tax		385,527			378,374			318,451

	For the years ended June 30,						For the period from July 1, 2025 to September 30,
	2024			2025			2025
	RMB			RMB			RMB

Net cash provided by discontinued operating activities		282,720			442,748			83,706
Net cash (used in)/provided by discontinued investing activities		(132,784	)		80,465			(64,183	)
Net cash used in discontinued financing activities		(130,192	)		(80,053	)		-

Summary of Significant Accounting Policies - Schedule of Intangible Assets Estimated Useful Lives (Details)	Jun. 30, 2026
Intellectual property rights (“IP Rights”) [Member]
Schedule of Intangible Assets Estimated Useful Lives [Line Items]
Estimated useful life	10 years
Licensed intellectual properties (“Licensed IPs”) [Member] \| Minimum [Member]
Schedule of Intangible Assets Estimated Useful Lives [Line Items]
Estimated useful life	2 years
Licensed intellectual properties (“Licensed IPs”) [Member] \| Maximum [Member]
Schedule of Intangible Assets Estimated Useful Lives [Line Items]
Estimated useful life	10 years
Channel relationship [Member]
Schedule of Intangible Assets Estimated Useful Lives [Line Items]
Estimated useful life	3 years
Software \| Minimum [Member]
Schedule of Intangible Assets Estimated Useful Lives [Line Items]
Estimated useful life	1 year
Software \| Maximum [Member]
Schedule of Intangible Assets Estimated Useful Lives [Line Items]
Estimated useful life	2 years

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Schedule of Long Term Investments

Short-term borrowings (Details) ¥ in Thousands	12 Months Ended
Short-term borrowings (Details) ¥ in Thousands	Jun. 30, 2025 CNY (¥)
Short-Term Borrowings [Line Items]
Secured loan	¥ 5,100
Outstanding borrowings
Revolving Credit Facility [Member]
Short-Term Borrowings [Line Items]
Unsecured revolving credit line	¥ 6,000
Shenzhen Lestvan [Member] \| Secured Loan [Member]
Short-Term Borrowings [Line Items]
Fixed interest rate	2.95%
Monthly payment schedule	¥ 300
Shenzhen Lestvan [Member] \| Revolving Credit Facility [Member]
Short-Term Borrowings [Line Items]
Unsecured revolving credit line	¥ 6,000
Fixed interest rate	2.22%

Lease - Schedule of Maturities of Operating Lease Liabilities (Details) ¥ in Thousands	Jun. 30, 2026 CNY (¥)
Schedule of Maturities of Operating Lease Liabilities [Abstract]
For the year ended June 30, 2027	¥ 19,384
For the year ended June 30, 2028	13,482
For the year ended June 30, 2029	3,110
Total operating lease payments	35,976
Less: imputed interest	(1,196)
Present value of operating lease liabilities	¥ 34,780

Long-Term Investments (Tables)

12 Months Ended

Jun. 30, 2026

Long-Term Investments [Abstract]

Long term investments as of June 30, 2025 and 2026 consist of the following:

	As of June 30,
	2025		2026
	RMB		RMB

Equity investment (i)		28,254		20,362
Total		28,254		20,362

Business Combination (Details) - CNY (¥) ¥ in Millions	12 Months Ended
Business Combination (Details) - CNY (¥) ¥ in Millions	Jun. 30, 2026	Jun. 30, 2025	Mar. 31, 2025
Shenzhen Letsvan [Member]
Business Combination [Line Items]
Equity interests		61.05%
Total cash consideration	¥ 200.0
Goodwill of expected value	¥ 187.6
Shenzhen Letsvan [Member] \| Shares Purchase Agreement [Member]
Business Combination [Line Items]
Equity interests		46.32%
Debt-to-Equity Conversion Agreement [Member]
Business Combination [Line Items]
Transaction cost		14.73%	61.05%

Taxation (Tables)

12 Months Ended

Jun. 30, 2026

Taxation [Abstract]

Schedule of Component of Income Tax Expenses

The following table sets forth the component of income tax (expenses)/benefit of the Group for the years ended June 30, 2024, 2025 and 2026:

	For the years ended June 30, 2026
	Mainland China			Hongkong			Others			Total
	RMB			RMB			RMB			RMB

Loss before income tax benefits		(219,032	)		(7,231	)		(40,136	)		(266,399	)
Current tax benefits		121			-			(72	)		49
Deferred tax expenses		11,415			-			-			11,415
Income tax benefits		11,536			-			(72	)		11,464

	For the years ended June 30, 2025
	Mainland China			Hongkong		Others			Total
	RMB			RMB		RMB			RMB

Loss before income tax expense		(17,917	)		1,712		(2,251	)		(18,456	)
Current tax expenses		(3,596	)		-		-			(3,596	)
Deferred tax expenses		246			-		-			246
Income tax expenses		(3,350	)		-		-			(3,350	)

For the years ended June 30, 2024

Mainland China

Hongkong

Others

Total

RMB

Loss before income tax expense

Current tax expenses

Deferred tax expenses

Income tax expenses

Schedule of Statutory EIT Rate and the Effective Tax Rates

The following table sets forth reconciliation between the PRC statutory EIT rate and the effective tax rates for years prior to the adoption of ASU 2023-09:

	For the years ended June 30,
	2024			2025

Statutory income tax rate in PRC		25.0	%		25.0	%
Effect of income tax exemptions and preferential tax rates		-			-11.8	%
Effect of income tax rate difference in other jurisdictions		-			9.4	%
Effect of PRC withholding tax		-			0.0	%
Permanent differences		-			-16.9	%
Changes in valuation allowance		-			-23.9	%
Effective tax rate		-			-18.2	%

Upon adoption of ASU 2023-09, as described in Note 2(ah), reconciliation of difference between the PRC statutory income tax rate and the Group’s effective income tax rate for the year ended June 30, 2026 is as follows:

	For the years ended June 30, 2026
	RMB			Percentage

Chinese mainland statutory income tax benefits		66,600			25.0	%
Other jurisdictions’ tax effects
Hong Kong		1,434			0.5	%
Cayman
Effect on tax rates in different tax jurisdictions		(9,983	)		-3.7	%
Other jurisdictions		(24	)		0.0	%
Changes in valuation allowance		(24,741	)		-9.3	%
Non-taxable or non-deductible items
Preferential tax rates and tax holiday		242			0.1	%
R&D Super deduction		6,161			2.3	%
Impairment loss on goodwill		(31,015	)		-11.6	%
Others		(1,428	)		-0.5	%
Other adjustments
Effect of PRC withholding tax		4,218			1.6	%
Effective tax rates		11,464			4.3	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities

	As of June 30,
	2025			2026
	RMB			RMB

Deferred tax assets:
Allowances of credit losses		-			350
Allowance for inventory valuation allowance		-			361
Operating lease liabilities		1,509			6,227
Accrued liability		-			144
Deductible temporary difference related to advertising expenses		-			269
Net operating tax losses carried forward		783			21,645
Subtotal		2,292			28,996
Less: valuation allowance		(465	)		(12,760	)
Total deferred tax assets, net		1,827			16,236

	As of June 30,
	2025		2026
	RMB		RMB

Deferred tax liabilities:
Receivables of consideration for Divested Business		-		28,774
Operating lease right-of-use assets		1,694		6,394
Newly identified intangible assets arising from business combination		16,259		13,442
Unrealized investment income		297		(222	)
Withholding tax on undistributed earnings		55,591		86,478
Total deferred tax liabilities		73,841		134,866

Schedule of Operating Tax Losses Carried Forward

As of June 30, 2026, certain entities of the Group had net operating tax losses carried forward, which if not utilized, will expire as follows:

	2026
	RMB

Loss expiring for the year ended December 31, 2026		-
Loss expiring for the year ended December 31, 2027		-
Loss expiring for the year ended December 31, 2028		-
Loss expiring for the year ended December 31, 2029		79
Loss expiring for the year ended December 31, 2030		14,795
Loss expiring for the year ended December 31, 2031		73,515
Subtotal		88,389

Schedule of Changes in Valuation Allowance

Changes in valuation allowance are as follows:

	For the years ended June 30,
	2024		2025			2026
	RMB		RMB			RMB

Balance at beginning of the year		-		-			(465	)
Addition		-		(465	)		(12,295	)
Balance at end of the year		-		(465	)		(12,760	)

Subsequent Events (Details) - Forecast [Member] - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2026	Oct. 21, 2026
Subsequent Events [Line Items]
Cash consideration	$ 4.0
Class A Ordinary Shares [Member] \| 2025 Share Repurchase Program [Member]
Subsequent Events [Line Items]
Number of shares repurchased		1,244,184
Number of shares repurchased amount		$ 0.8

Others, Net (Tables)

12 Months Ended

Jun. 30, 2026

Others, Net [Abstract]

Schedule of Others, Net

	For the years ended June 30,
	2024		2025			2026
	RMB		RMB			RMB

Government grants		-		-			3,047
Fair value changes and investment gain of short-term investments		-		4,714			7,223
Share of net income/(loss) of investments accounted for using equity method		-		1,165			(3,529	)
Net gains relating to transition services provided to the Divested Business		-		-			7,801
Others		-		(151	)		2,106
Total		-		5,728			16,648

Audit Information	12 Months Ended
Audit Information	Jun. 30, 2026
Auditor [Line Items]
Auditor Name	PricewaterhouseCoopers Zhong Tian LLP
Auditor Firm ID	1424
Auditor Location	Beijing, the People’s Republic of China
Auditor Opinion [Text Block]	Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Here Group Limited and its subsidiaries (the “Company”) as of June 30, 2026 and 2025, and the related consolidated statements of operations and comprehensive income, of changes in shareholders’ equity and of cash flows for each of the three years in the period ended June 30, 2026, including the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2026 and 2025, and the results of its operations and its cash flows for each of the three years in the period ended June 30, 2026 in conformity with accounting principles generally accepted in the United States of America.

Related Party Transactions (Tables)

12 Months Ended

Jun. 30, 2026

Schedule of Material Related Party Transactions

During the years ended June 30, 2024, 2025 and 2026, other than disclosed elsewhere, the Group had the following material related party transactions.

Name of related parties		Relationship with the Group

Mr. Huiyu Zhan		The Founder of Shenzhen Letsvan
Yuhuatongxing (Beijing) Cultural Development Co., Ltd. (“Yuhuatongxing”)		Entity significantly influenced by the Group
Nanjing Shangdehehua Equity Investment Partnership (Limited Partnership) (“Nanjing Shangde Hehua”)		Entity significantly influenced by the Group

Schedule of Related Party Transactions

The related party transactions entered into during the years ended June 30. 2024, 2025 and 2026 were as follows:

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Revenue from a related party ⁽¹⁾
Sales of pop toy products		-		1,503		26,975
Others		-		-		2,318
Total		-		1,503		29,293

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Services received from a related party ⁽¹⁾
IP license fee included in cost of revenues		-		-		10,402
Promotion service fee included in sales and marketing expenses		-		2,472		9,403

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Other transactions
Payment for acquisition of non-controlling interests in Shenzhen Letsvan ⁽²⁾		-		2,800		45,200
Lending to Mr. Zhan ⁽³⁾		-		-		17,290
Nanjing Shangde Hehua⁽⁴⁾		-		-		7,252
Capital contribution of non-controlling interest from a related party		-		513		-
Lending to an equity investee of the Group		-		113		-

Schedule of Outstanding Balance Due from/to Related Parties

(b)

The outstanding balance due from/to related parties as of June 30, 2025 and 2026 were as follows:

	As of June 30,
	2025		2026
	RMB		RMB

Due from related parties
Mr. Zhan ⁽³⁾		-		17,190
Due from Yuhuatongxing ⁽¹⁾		1,440		8,933
Due from an equity investee of the Group		137		108
Total		1,577		26,231

	As of June 30,
	2025		2026
	RMB		RMB

Due to related parties
Due to Yuhuatongxing ⁽¹⁾		2,621		17,637
Due to a non-controlling shareholder ⁽²⁾		700		-
Total		3,321		17,637

Note:

(1)

Yuhuatongxing acts as an authorized distributor of the Group and pays the Group for the pop toy products purchased.

Yuhuatongxing receives service fees from the Group for the provision of promotion services.

(2)

(3)

(4)

Schedule of Loans Guaranteed by Related Party

Loans guaranteed by a related party as of June 30, 2025 and 2026 were as follows:

	As of June 30,
	2025		2026
	RMB		RMB

Due from other related parties		5,100		-

Business Combination - Schedule of Supplemental Pro Forma Information (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Schedule of Supplemental Pro Forma Information [Abstract]
Pro forma total net revenues	¥ 163,473	¥ 126,634
Pro forma net income	¥ 334,774	¥ 404,094

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2026	Jun. 30, 2025
Class A Ordinary Shares
Statement [Line Items]
Ordinary shares, shares authorized (in Shares)	430,000,000	430,000,000
Ordinary shares, shares issued (in Shares)	119,595,046	119,595,046
Ordinary shares, shares outstanding (in Shares)	107,883,184	114,114,919
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Class B Ordinary Shares
Statement [Line Items]
Ordinary shares, shares authorized (in Shares)	70,000,000	70,000,000
Ordinary shares, shares issued (in Shares)	49,859,049	49,859,049
Ordinary shares, shares outstanding (in Shares)	49,859,049	49,859,049
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
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-Name Accounting Standards Codification
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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
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-Paragraph 1
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Inventories, Net

12 Months Ended

Jun. 30, 2026

Inventories, Net [Abstract]

Inventories, net

Inventories, net, as of June 30, 2025 and 2026, consist of the following:

	For the years ended June 30,
	2025			2026
	RMB			RMB

Finished goods		12,998			130,212
Raw materials, packing materials and others		3,379			6,823
Inventories		16,377			137,035
Provisions for inventories		(148	)		(2,291	)
Inventories, net		16,229			134,744

Ordinary Shares and Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended				12 Months Ended
	Feb. 16, 2023	Jan. 27, 2023	Feb. 09, 2022	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Ordinary Shares and Treasury Stock [Line Items]
Share capital (in Dollars)			$ 50,000
Ordinary shares, issued		200,000,000
Ordinary shares, par value (in Dollars per share)		$ 0.0001
ADS [Member] \| 2023 Share Repurchase Program [Member]
Ordinary Shares and Treasury Stock [Line Items]
Repurchase payment (in Dollars)							$ 20,000
ADS [Member] \| 2024 Share Repurchase Program [Member]
Ordinary Shares and Treasury Stock [Line Items]
Repurchase payment (in Dollars)						$ 20,000
ADS [Member] \| 2025 Share Repurchase Program [Member]
Ordinary Shares and Treasury Stock [Line Items]
Repurchase payment (in Dollars)					$ 20,000
ADS [Member] \| 2026 Share Repurchase Program [Member]
Ordinary Shares and Treasury Stock [Line Items]
Repurchase payment (in Dollars)				$ 20,000
Class A Ordinary Shares [Member]
Ordinary Shares and Treasury Stock [Line Items]
Shares authorized				430,000,000	430,000,000			430,000,000	430,000,000
Ordinary shares, issued		430,000,000		119,595,046	119,595,046			119,595,046	119,595,046
Shares repurchased									7,622,283	4,681,353
Re-issued treasury stock								13,701,267
Ordinary shares, par value (in Dollars per share)		$ 0.0001		$ 0.0001	$ 0.0001			$ 0.0001	$ 0.0001
Class A Ordinary Shares [Member] \| Aforementioned Share Repurchase Programs [Member]
Ordinary Shares and Treasury Stock [Line Items]
Number of shares repurchased				21,577,482				21,577,482
Repurchase average price per share (in Dollars per share)								$ 1.4
Number of shares repurchased amount (in Dollars)				$ 30,079				$ 30,079
Class A Ordinary Shares [Member] \| Ordinary Shares [Member]
Ordinary Shares and Treasury Stock [Line Items]
Issuance of ordinary shares for share incentive plan										3,835,647
Ordinary shares voting rights		one
Class A Ordinary Shares [Member] \| ADS [Member]
Ordinary Shares and Treasury Stock [Line Items]
Issuance of ordinary shares for share incentive plan										9
Repurchase average price per share (in Dollars per share)								$ 4.2
Class B Ordinary [Member]
Ordinary Shares and Treasury Stock [Line Items]
Shares authorized				70,000,000	70,000,000			70,000,000	70,000,000
Ordinary shares, issued				49,859,049	49,859,049			49,859,049	49,859,049
Ordinary shares, par value (in Dollars per share)				$ 0.0001	$ 0.0001			$ 0.0001	$ 0.0001
Class B Ordinary [Member] \| Ordinary Shares [Member]
Ordinary Shares and Treasury Stock [Line Items]
Issuance of ordinary shares for share incentive plan
Ordinary shares voting rights		ten
Class B Ordinary [Member] \| Mr. Peng Li [Member]
Ordinary Shares and Treasury Stock [Line Items]
Ordinary shares, issued		49,859,049
Founder [Member] \| Ordinary Shares [Member]
Ordinary Shares and Treasury Stock [Line Items]
Shares authorized			500,000,000
Ordinary shares, par value (in Dollars per share)			$ 0.0001
IPO [Member]
Ordinary Shares and Treasury Stock [Line Items]
Share capital (in Dollars)		$ 70,000
IPO [Member] \| ADS [Member]
Ordinary Shares and Treasury Stock [Line Items]
Share allotted and issued		3,250,000
Number of issued per unit		1
IPO [Member] \| Class A Ordinary Shares [Member]
Ordinary Shares and Treasury Stock [Line Items]
Ordinary shares, issued		700,000,000
Number of issued per unit		3
Exercised shares										3,835,647
Ordinary shares, par value (in Dollars per share)		$ 0.0001
IPO [Member] \| Class B Ordinary [Member]
Ordinary Shares and Treasury Stock [Line Items]
Ordinary shares, issued		70,000,000
Ordinary shares, par value (in Dollars per share)		$ 0.0001
Underwriters [Member] \| ADS [Member]
Ordinary Shares and Treasury Stock [Line Items]
Exercised shares	127,396
Net proceeds after deducting the underwriter commissions	$ 1,457	$ 37,172

Accounts Receivable, Net - Schedule of Accounts Receivable , Net (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)
Schedule of Accounts Receivable , Net [Line Items]
Accounts receivable		¥ 18,208	¥ 29,937
Less: allowance for credit losses		(1,348)	(432)
Accounts receivable, net	$ 2,485	16,860	29,505
Sales of pop toy products [Member]
Schedule of Accounts Receivable , Net [Line Items]
Accounts receivable		18,208	29,909
Others [Member]
Schedule of Accounts Receivable , Net [Line Items]
Accounts receivable			¥ 28

Property and equipment, net - Schedule of Property and Equipment, Net (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)
Schedule of Property and Equipment, Net [Line Items]
Property and equipment, gross		¥ 34,918	¥ 17,481
Less: Accumulated depreciation		(12,552)	(7,546)
Property and equipment, net	$ 3,296	22,366	9,935
Molds [Member]
Schedule of Property and Equipment, Net [Line Items]
Property and equipment, gross		17,243	8,938
Leasehold improvements [Member]
Schedule of Property and Equipment, Net [Line Items]
Property and equipment, gross		11,082	4,172
Computer and electronic equipment [Member]
Schedule of Property and Equipment, Net [Line Items]
Property and equipment, gross		6,312	4,016
Other [Member]
Schedule of Property and Equipment, Net [Line Items]
Property and equipment, gross		¥ 281	¥ 355

Amount of accumulated depreciation, depletion, and amortization of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Amount, after accumulated depreciation, depletion, and amortization, of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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Concentration and Risks

12 Months Ended

Jun. 30, 2026

Concentration and Risks [Abstract]

Concentration and risks

5.	Concentration and risks

Concentration of foreign currency risk

The Group’s operating transactions are mainly denominated in RMB. RMB is not freely convertible into foreign currencies. The value of the RMB is subject to changes by the central government policies and to international economic and political developments. In the PRC, certain foreign exchange transactions are required by law to be transacted only through authorized financial institutions at exchange rates set by the People’s Bank of China (the “PBOC”). Remittances in currencies other than RMB by the Group in the PRC must be processed through PBOC or other PRC foreign exchange regulatory bodies which require certain supporting documents in order to effect the remittances. As of June 30, 2025, the Group’s cash and cash equivalents, restricted cash and short-term investments denominated in RMB were RMB516,525, accounting for 81.5% of the Group’s total cash and cash equivalents, restricted cash and short-term investments from continuing operations. As of June 30, 2026, the Group’s cash and cash equivalents, restricted cash and short-term investments denominated in RMB were RMB566,323, accounting for 92.8% of the Group’s total cash and cash equivalents, restricted cash and short-term investments.

Concentration of customers and suppliers

One customer accounted for 37.5% of the Group’s total revenues for the years ended June 30, 2026. No other customer accounted for more than 10% of the Group’s total revenues during the same period. There were three and two customers individually accounted for more than 10% of the Group’s net accounts receivable as of June 30, 2025 and 2026, respectively.

	As of June 30,
Accounts receivables, net	2025			2026

Customer A		32.8	%		34.0	%
Customer B		23.0	%		*
Customer C		12.8	%		*
Customer D		*			11.7	%

*	The percentage was below 10% for the period.

Two suppliers accounted for 15.2% and 10.1%, respectively, of the Group’s total purchases for the year ended June 30, 2026. No other supplier accounted for more than 10% of the Group’s total purchases during the same period.

Credit and concentration risk

Financial instruments that potentially expose the Group to significant concentration of credit risk primarily consist of cash and cash equivalents, restricted cash and short-term investment. As of June 30, 2025, and 2026, substantially all the Group’s cash and cash equivalents, restricted cash and short-term investments were held in major financial institutions located in Mainland China, Singapore and Hong Kong, which management considered to be of high credit quality.

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

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Commitments and Contingencies [Abstract]

Taxation - Schedule of Statutory EIT Rate and the Effective Tax Rates (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Effective Income Tax Rate Reconciliation [Line Items]
Chinese mainland statutory income tax benefits	25.00%	25.00%	25.00%	25.00%
Chinese mainland statutory income tax benefits		¥ 66,600
Other jurisdictions’ tax effects		¥ (24)
Other jurisdictions’ tax effects (Percentage)	0.00%	0.00%	9.40%
Changes in valuation allowance		¥ (24,741)
Changes in valuation allowance (Percentage)	(9.30%)	(9.30%)	(23.90%)
Preferential tax rates and tax holiday		¥ 242
Preferential tax rates and tax holiday (Percentage)	0.10%	0.10%
R&D Super deduction		¥ 6,161
R&D Super deduction (Percentage)	2.30%	2.30%
Impairment loss on goodwill		¥ (31,015)
Impairment loss on goodwill (Percentage)	(11.60%)	(11.60%)
Others		¥ (1,428)
Others (Percentage)	(0.50%)	(0.50%)
Effect of PRC withholding tax		¥ 4,218
Effect of PRC withholding tax (Percentage)	1.60%	1.60%	0.00%
Effect of income tax exemptions and preferential tax rates			(11.80%)
Permanent differences			(16.90%)
Effective tax rate	4.30%	4.30%	(18.20%)
Income tax (expense)/benefit	$ 1,690	¥ 11,464	¥ (3,350)
Hong Kong [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Other jurisdictions’ tax effects		¥ 1,434
Other jurisdictions’ tax effects (Percentage)	0.50%	0.50%
Income tax (expense)/benefit
Cayman [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Other jurisdictions’ tax effects		¥ (9,983)
Other jurisdictions’ tax effects (Percentage)	(3.70%)	(3.70%)

Lease

12 Months Ended

Jun. 30, 2026

Lease [Abstract]

Lease

14.

Lease

The Group has operating leases for corporate offices, offline stores and warehouses with lease terms from within three months to three years. For operating leases with terms greater than twelve months, the Group records the related assets and lease liability at the present value of lease payments over the terms.

	As of June 30,
	2025		2026
	RMB		RMB

Operating lease right-of-use assets, net		12,504		35,438
Operating lease liabilities-current		9,482		18,532
Operating lease liabilities-non-current		4,617		16,248

The following table provides a summary of the Group’s operating lease expenses and short-term lease expenses as of June 30, 2024, 2025 and 2026:

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Operating lease expenses		-		1,202		14,272
Short-term lease expenses		-		106		4,490

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Cash paid for amounts included in the measurement of operating lease liabilities		-		5,964		18,919
Right-of-use assets obtained in exchange for operating lease obligations		-		2,193		42,854

The following table provides a summary of the Group’s operating lease terms and discount rates as of June 30, 2025 and 2026:

	As of June 30,
	2025			2026

Weighted average remaining lease term (in years)		0.96			2.03
Weighted average discount rate		4.52	%		3.25	%

Maturities of operating lease liabilities as of June 30, 2026 were as follows:

	Amounts
	RMB

For the year ended June 30, 2027		19,384
For the year ended June 30, 2028		13,482
For the year ended June 30, 2029		3,110
Total operating lease payments		35,976
Less: imputed interest		(1,196	)
Present value of operating lease liabilities		34,780

Organization and Principal Activities - Schedule of Major Subsidiaries (Details)	12 Months Ended
	Jun. 30, 2026
Hundreds of Mountains Limited [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Mar. 22, 2021
Place of incorporation	The BVI
Percentage of direct or indirect economic interest	100.00%
Principal activities	Investment holding
Witty Digital Technology Limited [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Mar. 29, 2021
Place of incorporation	Hong Kong
Percentage of direct or indirect economic interest	100.00%
Principal activities	Technical consulting and related service
CreaVerse Group Limited [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Feb. 06, 2024
Place of incorporation	Cayman Islands
Percentage of direct or indirect economic interest	100.00%
Principal activities	Investment holding
CreaVerse Group (BVI) Limited [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Feb. 08, 2024
Place of incorporation	The BVI
Percentage of direct or indirect economic interest	100.00%
Principal activities	Investment holding
CreaVerse Technology (Singapore) Pte. Limited [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Feb. 26, 2024
Place of incorporation	Singapore
Percentage of direct or indirect economic interest	100.00%
Principal activities	Investment holding
CreaVerse Technology (HK) Limited [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Mar. 11, 2024
Place of incorporation	Hong Kong
Percentage of direct or indirect economic interest	100.00%
Principal activities	Investment holding
Beijing Qimengdao Technology Co., Ltd. (the “WFOE”) [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Mar. 19, 2021
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Technical consulting and related service
Beijing Yiqi Culture Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Jan. 21, 2025
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Shanghai Qimengdao Culture Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Sep. 02, 2025
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Chongqing Qimengdao Cultural Communication Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Sep. 02, 2025
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Shenzhen Qimengdao Trading Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Oct. 16, 2025
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Beijing Qimengdao Cultural Communication Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Oct. 22, 2025
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Beijing Qimengdao Trading Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Oct. 22, 2025
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Beijing Xingxuzaowu Cultural and Creative Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Mar. 23, 2026
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Xian Qimengdao Cultural Communication Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Mar. 27, 2026
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Shenzhen Chaowan World Information Technology Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Dec. 24, 2024
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Shenzhen Yiqi Culture Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Nov. 23, 2020
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	76.30%
Principal activities	Pop toy business
Shenzhen Yiqiwan Cultural Industry Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Aug. 09, 2022
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Shenzhen Huiyusheji Culture Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Oct. 08, 2022
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Dongguan Yiqiwan Cultural Industry Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Nov. 20, 2023
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Hangzhou Yiqi Technology Development Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Jul. 16, 2025
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business
Qimengdao (Changchun) Culture Co., Ltd. [Member]
Schedule of Major Subsidiaries [Line Items]
Date of incorporation	Aug. 18, 2025
Place of incorporation	The PRC
Percentage of direct or indirect economic interest	100.00%
Principal activities	Pop toy business

Restricted Net Assets and Parent Company Only Condensed Financial Information - Schedule of Condensed Balance Sheets (Details) - Parent Company [Member] ¥ in Thousands, $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)
Current assets:
Cash and cash equivalents	$ 3,631	¥ 24,637	¥ 61,483
Short-term investments	8	54
Amounts due from intra-Group companies	10,388	70,486	89,638
Prepayments and other current assets	3,632	24,637	26,497
Total current assets	17,659	119,814	177,742
Investment in subsidiaries	87,674	594,879	707,892
Total non-current assets	87,674	594,879	707,892
TOTAL ASSETS	105,333	714,693	885,634
Accrued expenses and other current liabilities	58	396	300
Amounts due to intra-Group companies	12,613	85,578	64,820
Total current liabilities	12,671	85,974	65,120
Net liabilities of the VIEs			11,517
Total non-current liabilities			11,517
TOTAL LIABILITIES	12,671	85,974	76,637
SHAREHOLDERS’ EQUITY
Treasury stock	17,836	121,020	49,054
Additional paid-in capital	132,743	900,672	1,066,860
Accumulated other comprehensive income	1,761	11,950	16,507
Accumulated deficit	(24,023)	(162,998)	(225,431)
TOTAL SHAREHOLDERS’ EQUITY	92,662	628,719	808,997
TOTAL LIABILITIES, AND SHAREHOLDERS’ EQUITY	105,333	714,693	885,634
Class A Ordinary Shares
SHAREHOLDERS’ EQUITY
Ordinary shares value	12	81	81
Class B Ordinary Shares
SHAREHOLDERS’ EQUITY
Ordinary shares value	$ 5	¥ 34	¥ 34

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Jun. 30, 2026
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy We collect and store different types of personal information concerning our users in our business operations based on the type of services requested. For instance, we generally collect cellphone numbers and/or social media accounts of our users for account registration purpose, delivery information for physical goods shipment, and transaction data relating to blind-box purchases and draw records. We collect such information from different sources, including our mobile apps, Weixin mini-programs and official accounts, offline self-operated stores, third-party retail channels and fan community platforms. We believe that the legitimate and positive use of data concerning our users is critical to our business success. We provide our services via our mobile apps under standard user privacy provisions, pursuant to which we undertake to collect user information on a lawful, appropriate and necessary basis. These provisions inform users about the situations we will collect personal information, the type of information collected, how we store and use such information, users’ rights, and our data security measures. In the case of blind-box sales, applicable regulations require us to take measures to prevent purchases by minors under the age of eight and to confirm that purchasers aged eight and above have obtained guardian consent, which requires the collection and verification of certain age-related and identity information. We also establish a set of detailed rules in collecting and using user information for each key step in blind-box sales and fan engagement, including those relating to online draw mechanics, purchase-limit mechanisms and community interactions.. We will not share user information with third parties unless there is express consent or required by law. We update our user privacy provisions from time to time to ensure that they comply with the relevant laws and regulations and stay abreast with our business updates. We have implemented stringent internal protocols with respect to data storage, access, processing and extraction. For sensitive personal information, including identity verification data used in minor protection controls and certain transaction records, we apply encryption procedures, and grant classified and limited access to such information, generally after data masking, to those employees demonstrating authorized needs through an internal application and approval process. We have also implemented protocols on personal information security protection, which govern our internal business processes including the demand analysis, product design and development, testing and product launch, to evaluate and ensure our personal information compliance on an ongoing basis. We retain records of blind-box draw probabilities, draw results and related transaction records for the periods required by applicable regulations. To tackle potential security incidents, we design relevant action plans to limit the impact on our users and business operations. To ensure the confidentiality and integrity of our data, we maintain a comprehensive data security system. We anonymize and encrypt sensitive personal information and cooperate with reputable third-party cloud service providers to ensure the security of our data storage. Our back-end security system is capable of handling malicious attacks to safeguard the security of our operations and to protect the information security of our users. We also perform audits of our data security and technology infrastructure to ensure that we can timely discover potential issues and minimize related risks. We currently do not engage third parties such as assessors, consultants or auditors for assessing, identifying or managing our risks from cybersecurity threats in our day-to-day operations. However, we will consult with the legal advisor from time to time to comply with applicable requirements on cybersecurity, personal information protection and blind-box regulation. As of the date of this annual report, we have not experienced any cybersecurity threats that materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations, or financial condition. Governance We have established data security management committee, which is generally responsible for assessing and managing our cybersecurity risks, and we have formulated emergency policies for cybersecurity incidents. We also have in-house security engineer, which is a certified information security professional, to implement and oversee our cybersecurity measures. As of the date of this annual report, we have not experienced material cybersecurity incidents. Our routine cybersecurity governance primarily comprises three aspects, including decision-making, cybersecurity management and compliance. Our data security management committee is responsible for overseeing our cybersecurity risks and routine decision-making. Departments under our product development center are responsible for the specific cybersecurity management tasks, including product, technology, maintenance and operations and big data departments, to leverage their professional expertise in the responsible areas and implement relevant security procedures in our day-to-day operations. Our legal and compliance department is responsible for tracking the latest developments in relevant laws and regulations, reviewing relevant service agreements and overseeing the compliance status of our products and services, with particular focus on requirements applicable to blind-box operations, online draw mechanics and minor protection controls. In the event of material cybersecurity incident, the relevant personnel and departments shall report to our board of directors, which shall review the status and authorize the emergency procedures. Our data security management committee shall be responsible for leading and coordinating the implementation of emergency procedures.
Cybersecurity Risk Management Processes Integrated [Text Block]	To ensure the confidentiality and integrity of our data, we maintain a comprehensive data security system.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Third Party Engaged [Flag]	false
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	As of the date of this annual report, we have not experienced any cybersecurity threats that materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations, or financial condition.
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	true
Cybersecurity Risk Role of Management [Text Block]	We have established data security management committee, which is generally responsible for assessing and managing our cybersecurity risks, and we have formulated emergency policies for cybersecurity incidents. We also have in-house security engineer, which is a certified information security professional, to implement and oversee our cybersecurity measures. As of the date of this annual report, we have not experienced material cybersecurity incidents.
Cybersecurity Risk Board of Directors Oversight [Text Block]	We have established data security management committee, which is generally responsible for assessing and managing our cybersecurity risks, and we have formulated emergency policies for cybersecurity incidents. We also have in-house security engineer, which is a certified information security professional, to implement and oversee our cybersecurity measures. As of the date of this annual report, we have not experienced material cybersecurity incidents. Our routine cybersecurity governance primarily comprises three aspects, including decision-making, cybersecurity management and compliance. Our data security management committee is responsible for overseeing our cybersecurity risks and routine decision-making. Departments under our product development center are responsible for the specific cybersecurity management tasks, including product, technology, maintenance and operations and big data departments, to leverage their professional expertise in the responsible areas and implement relevant security procedures in our day-to-day operations. Our legal and compliance department is responsible for tracking the latest developments in relevant laws and regulations, reviewing relevant service agreements and overseeing the compliance status of our products and services, with particular focus on requirements applicable to blind-box operations, online draw mechanics and minor protection controls. In the event of material cybersecurity incident, the relevant personnel and departments shall report to our board of directors, which shall review the status and authorize the emergency procedures. Our data security management committee shall be responsible for leading and coordinating the implementation of emergency procedures.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Departments under our product development center are responsible for the specific cybersecurity management tasks, including product, technology, maintenance and operations and big data departments, to leverage their professional expertise in the responsible areas and implement relevant security procedures in our day-to-day operations.

Commitments and Contingencies

12 Months Ended

Jun. 30, 2026

Commitments and contingencies

26.

Commitments and contingencies

Operating lease commitment

Upon the adoption of ASC 842, Leases, future minimum lease payments for operating lease liabilities as of June 30, 2025 and 2026 are disclosed in Note 14.

Legal Proceedings

From time to time, the Company may be involved in various legal actions arising in the ordinary course of business. The Company accrues costs associated with these matters when they become probable and the amount can be reasonably estimated. The Company did not have other material commitments, long-term obligations, significant contingencies or guarantees as of June 30, 2025 and 2026.

Accounts Receivable, Net - Schedule of Allowance for Credit Losses (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Schedule of Allowance for Credit Losses [Abstract]
Balance at beginning of the year	¥ (432)
Additions	(916)	(432)
Write-offs
Balance at end of the year	¥ (1,348)	¥ (432)

Organization and Principal Activities (Details) - CNY (¥) ¥ in Millions	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Mar. 31, 2025
Organization and Principal Activities [Line Items]
Equivalent amount	¥ 180
Here Group Limited [Member]
Organization and Principal Activities [Line Items]
Date of incorporation	Feb. 09, 2022
Shenzhen Yiqi Culture Co., Ltd. [Member]
Organization and Principal Activities [Line Items]
Acquisition of equity interest		2.50%	61.05%
Shenzhen Letsvan [Member]
Organization and Principal Activities [Line Items]
Acquisition of equity interest	76.30%	2.50%

Intangible assets, net (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Intangible Assets, Net [Line Items]
Amortization expenses	$ 1,748	¥ 11,861	¥ 3,017
IP Rights [Member]
Intangible Assets, Net [Line Items]
Amortization expenses		¥ 49,000
IP Rights [Member] \| Minimum [Member]
Intangible Assets, Net [Line Items]
Estimated life	3 years	3 years
Channel Relationships [Member]
Intangible Assets, Net [Line Items]
Amortization expenses		¥ 19,000
Channel Relationships [Member] \| Arithmetic Average [Member]
Intangible Assets, Net [Line Items]
Estimated life	10 years	10 years

Amount of amortization expense for finite-lived intangible asset. Excludes goodwill and capitalized cost for software to be sold, leased, or marketed.

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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Business Combination

12 Months Ended

Jun. 30, 2026

Business Combination [Abstract]

Business combination

Business combinations during the year ended June 30, 2025

Acquisition of Shenzhen Letsvan

Founded in 2020, Shenzhen Letsvan is principally engaged in IP incubation, copyright commercialization, and the promotion and sales of pop toys.

During the year ended June 30, 2025, the Group entered into a series of transactions with Shenzhen Letsvan and its then existing shareholders, pursuant to which the Group acquired a total of 61.05% equity interest in Shenzhen Letsvan after step acquisition (“Shenzhen Letsvan Acquisition”). Upon the completion of a series of transactions, including a convertible bond agreement, an equity transfer agreement, and a shares purchase agreement signed in December 2024, along with a debt-to-equity conversion agreement signed in March 2025, the Group held approximately 14.73% of the equity in Shenzhen Letsvan. At the end of March 2025, the Group entered into another equity transfer agreement and shares purchase agreement to acquire an additional 46.32% equity interests in Shenzhen Letsvan” for a total cash consideration of RMB200.0 million. Upon the closing of these transactions on March 31, 2025 (the acquisition date), the Group held, approximately 61.05% of Shenzhen Letsvan’s interests and obtained the control in Shenzhen Letsvan. The Group accounted for the transactions as business combination and consolidated its financial results into the Group’s consolidated financial statements since the acquisition date.

The acquisition of Shenzhen Letsvan was accounted for using the acquisition method, and the purchase price allocation was made based on the fair value of the tangible and intangible assets acquired and liabilities assumed at the date of acquisition. The fair values of the identifiable intangible assets acquired were determined using various valuation techniques, including the fair value of the channel relationship was determined using the Multi-period Excess Earnings Method, and the fair value of IP Rights was determined using Relief from Royalty Method, all of which were under the income approach. The fair value measurements were primarily based on significant inputs that are not directly observable in the market and are considered Level 3 under the fair value measurements and disclosure framework. Key assumptions include cash flow projections for Shenzhen Letsvan and the discount rate applied to those cash flows. Identifiable intangible assets with finite lives are amortized over their useful lives. The carrying value of the other tangible assets acquired and liabilities assumed approximate their fair value. The excess of the purchase price and the fair value of non-controlling interests over the estimated fair values of the identifiable net assets acquired was recorded as goodwill. The Fair value of the non-controlling interest was estimated with reference to the price per share as of the acquisition date.

The following is a summary of the fair value of the purchase price and the final allocation of the purchase price to the assets acquired and liabilities assumed:

	RMB

Cash and cash equivalents		93,450
Short-term investments		20,000
Accounts receivable, net		23,100
Other current assets		24,968
Property and equipment, net		7,488
Newly identified intangible assets (IP Rights)		49,000
Newly identified intangible assets (channel relationship)		19,000
Goodwill		187,598
Other non-current assets		7,423
Short-term borrowings		(14,500	)
Other current liabilities		(22,223	)
Other non-current liabilities		(1,155	)
Deferred tax liabilities		(17,000	)
Non-controlling interests-equity		(93,041	)
Non-controlling interests- mezzanine equity		(40,999	)
Total purchase consideration		243,109
Total purchase price is comprised of:
-Cash		200,000
-Fair value of previously held equity interests		43,109
Total		243,109

In connection with the Shenzhen Letsvan Acquisition, the Group recorded goodwill of RMB187.6 million, which is primarily attributable to expected synergies, expanded market opportunities, and other expected benefits that the Group believes it will result from combining its operations with the operations of Shenzhen Letsvan. The incremental goodwill created as a result of the acquisition is not deductible for tax purposes. Goodwill has been allocated to the pop toy business segment.

Supplemental pro forma information

The following unaudited pro forma consolidated financial information is prepared as if the business acquisition occurred on July 1, 2023. For the business acquisition, amortization have been included in the calculation of the pro forma information provided below, based on the results of purchase price allocation. Amortization is computed on the straight-line method over the estimated useful lives of the assets ranging from three to ten years.

	For the years ended June 30,
	2024		2025
	RMB		RMB

Pro forma total net revenues		126,634		163,473
Pro forma net income		404,094		334,774

Other acquisition during the year ended June 30, 2025

During the year ended June 30, 2025, the Group also made another business acquisition, for which the result of the operations has been included in the Group’s consolidated financial statements from its acquisition date and was not material to the Group’s consolidated financial statements.

The entire disclosure for business combination.

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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-4

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)(3)
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
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-URI https://asc.fasb.org/805-10/tableOfContent

Consolidated Statements of Changes in Shareholders’ Equity ¥ in Thousands, $ in Thousands	Ordinary shares Class A CNY (¥) shares	Ordinary shares Class B CNY (¥) shares	Treasury stock Amount CNY (¥) shares	Additional paid-in capital CNY (¥)	Accumulated other comprehensive income/(loss) CNY (¥)	Accumulated deficit CNY (¥)	Non- controlling interests CNY (¥)	USD ($)	CNY (¥)
Balance at Jun. 30, 2023	¥ 78	¥ 34		¥ 1,171,092	¥ 22,182	¥ (969,688)	¥ 2,135		¥ 225,833
Balance (in Shares) at Jun. 30, 2023 \| shares	115,759,408	49,859,049
Balance (in Shares) at Jun. 30, 2023 \| shares
Statement [Line Items]
Issuance of ordinary shares for share incentive plan	¥ 3		¥ (3)
Issuance of ordinary shares for share incentive plan (in Shares) \| shares	3,835,647
Issuance of ordinary shares for share incentive plan (in Shares) \| shares			(3,835,647)
Cancellation of ordinary shares
Cancellation of ordinary shares (in Shares) \| shares	(9)
Repurchase of American depositary shares (“ADSs”)			¥ (118,498)						(118,498)
Repurchase of American depositary shares (“ADSs”) (in Shares) \| shares			(13,836,078)
Exercise of share options			¥ 9,244	(6,260)					2,984
Exercise of share options (in Shares) \| shares
Exercise of share options (in Shares) \| shares			1,852,806
Share-based compensation				27,757					27,757
Disposal of non-controlling interests				(115)			(2,135)		(2,250)
Net Income (loss)						385,527			385,527
Currency translation differences					(4,869)				(4,869)
Balance at Jun. 30, 2024	¥ 81	¥ 34	¥ (109,257)	1,192,474	17,313	(584,161)			516,484
Balance (in Shares) at Jun. 30, 2024 \| shares	119,595,046	49,859,049
Balance (in Shares) at Jun. 30, 2024 \| shares			(15,818,919)
Statement [Line Items]
Repurchase of American depositary shares (“ADSs”)			¥ (17,986)						(17,986)
Repurchase of American depositary shares (“ADSs”) (in Shares) \| shares			(1,026,708)
Exercise of share options			¥ 78,189	(66,796)					11,393
Exercise of share options (in Shares) \| shares
Exercise of share options (in Shares) \| shares			11,365,500
Share-based compensation				19,293					19,293
Net Income (loss)						358,730	(2,162)		356,568
Currency translation differences					(806)				(806)
Acquisition of subsidiary with non-controlling interests							93,041		93,041
Capital contribution from non-controlling interests							713		713
Acquisition of noncontrolling interest							(8,625)		(8,625)
Declaration of cash dividends				(78,111)					(78,111)
Balance at Jun. 30, 2025	¥ 81	¥ 34	¥ (49,054)	1,066,860	16,507	(225,431)	82,967		891,964
Balance (in Shares) at Jun. 30, 2025 \| shares	119,595,046	49,859,049
Balance (in Shares) at Jun. 30, 2025 \| shares			(5,480,127)
Statement [Line Items]
Repurchase of American depositary shares (“ADSs”)			¥ (76,976)						(76,976)
Repurchase of American depositary shares (“ADSs”) (in Shares) \| shares			(6,714,696)
Exercise of share options			¥ 5,010	(3,436)					1,574
Exercise of share options (in Shares) \| shares
Exercise of share options (in Shares) \| shares			482,961
Share-based compensation				36,940					36,940
Net Income (loss)						62,433	1,083	$ 9,362	63,516
Currency translation differences					(4,557)				(4,557)
Acquisition of noncontrolling interest				(224,405)			(83,836)		(308,241)
Share options retained by employees of Divested Business				17,461					17,461
Elimination of upstream transaction with equity method investee				7,252					7,252
Disposal of Divested Business							(214)		(214)
Balance at Jun. 30, 2026	¥ 81	¥ 34	¥ (121,020)	¥ 900,672	¥ 11,950	¥ (162,998)		$ 92,662	¥ 628,719
Balance (in Shares) at Jun. 30, 2026 \| shares	119,595,046	49,859,049
Balance (in Shares) at Jun. 30, 2026 \| shares			(11,711,862)

Taxation (Details) ¥ in Thousands, $ in Thousands, $ in Thousands		12 Months Ended
	Apr. 01, 2018 HKD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 USD ($)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 USD ($)
Taxation [Line Items]
Percentage of tax rate		4.30%	4.30%	(18.20%)
Assessable profits (in Dollars)	$ 2,000
Percentage of assessable profits	16.50%
Percentage of income tax dividend percent		25.00%	25.00%
Percentage of income tax dividends		10.00%	10.00%
Retained earnings (in Dollars)		$ (24,023)				¥ (162,998)		¥ (225,431)
Preferential tax rate		15.00%	15.00%
Statutory tax rate		25.00%	25.00%	25.00%	25.00%
Income taxes paid		$ 7,134	¥ 48,406	¥ 25,913
Chinese Mainland [Member]
Taxation [Line Items]
Income taxes paid \| ¥			48,300
Outside Chinese Mainland [Member]
Taxation [Line Items]
Income taxes paid \| ¥			¥ 100
PRC [Member]
Taxation [Line Items]
Percentage of tax rate		25.00%	25.00%
High and New Technology Enterprises [Member]
Taxation [Line Items]
Preferential tax rate		15.00%	15.00%
Enterprise Income Tax Law [Member]
Taxation [Line Items]
Preferential tax rate		15.00%	15.00%
Witty Digital Technology Limited [Member]
Taxation [Line Items]
Percentage of tax rate		10.00%	10.00%
Retained earnings (in Dollars)							$ 10,000		$ 5,263
Accrue Withholding Tax on Undistributed Earnings		10.00%	10.00%
Hong Kong [Member]
Taxation [Line Items]
Percentage of tax rate	8.25%				5.00%
Excess assessable profits (in Dollars)	$ 2,000
Foreign [Member] \| PRC [Member]
Taxation [Line Items]
Percentage of tax rate		25.00%	25.00%

Consolidated Statements of Operations and Comprehensive Income (Parentheticals) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Statement [Line Items]
Cost of revenues	¥ 399,547	¥ 42,970
Gain on disposal	284,737
Related Party
Statement [Line Items]
Revenues	29,293	1,503
Cost of revenues	10,402
Sales and marketing expenses	¥ 9,403	¥ 2,472

The aggregate cost of goods produced and sold and services rendered during the reporting period.

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Noncontrolling Interests and Noncontrolling Interests with Liquidation Preferences [Abstract]

Concentration and Risks (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
Concentration and Risks (Details) - CNY (¥) ¥ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Concentration and Risks [Line Items]
Short term investments	¥ 566,323	¥ 516,525
Cash and cash equivalents and short term investments percentage	92.80%	81.50%
Customer Concentration Risk [Member] \| Customer One [Member] \| Revenue Benchmark [Member]
Concentration and Risks [Line Items]
Concentration risk, percentage	37.50%
Supplier One [Member] \| Credit Concentration Risk [Member] \| Total Purchases [Member]
Concentration and Risks [Line Items]
Concentration risk, percentage	15.20%
Supplier Two [Member] \| Credit Concentration Risk [Member] \| Total Purchases [Member]
Concentration and Risks [Line Items]
Concentration risk, percentage	10.10%

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)
Current assets:
Cash and cash equivalents	$ 63,531	¥ 431,061	¥ 472,943
Restricted cash	154	1,043	20,757
Short-term investments	26,267	178,223	139,990
Accounts receivable, net	2,485	16,860	29,505
Inventories, net	19,859	134,744	16,229
Prepayments and other current assets	18,277	124,018	73,434
Current assets held for sale			558,316
Total current assets	134,439	912,180	1,312,751
Non-current assets:
Property and equipment, net	3,296	22,366	9,935
Intangible assets, net	9,023	61,225	65,938
Long-term investments	3,001	20,362	28,254
Operating lease right-of-use assets	5,223	35,438	12,504
Goodwill	9,364	63,539	187,598
Other non-current assets	3,202	21,723	1,475
Non-current assets held for sale			43,064
Total non-current assets	33,109	224,653	348,768
TOTAL ASSETS	167,548	1,136,833	1,661,519
Current liabilities:
Short-term borrowings			11,100
Accounts payable	7,916	53,709	14,321
Accrued expenses and other current liabilities	7,287	49,445	66,168
Income tax payable	800	5,430	9,440
Contract liabilities	1,048	7,111	1,665
Operating lease liabilities, current	2,731	18,532	9,482
Current liabilities held for sale			498,516
Total current liabilities	22,381	151,864	614,013
Non-current liabilities:
Operating lease liabilities, non-current	2,395	16,248	4,617
Deferred tax liabilities	17,484	118,630	72,014
Non-current liabilities held for sale			37,912
Total non-current liabilities	19,879	134,878	114,543
TOTAL LIABILITIES	42,260	286,742	728,556
Commitments and contingencies
MEZZANINE EQUITY
Non-controlling interests	32,626	221,372	40,999
SHAREHOLDERS’ EQUITY
Treasury stock	(17,836)	(121,020)	(49,054)
Additional paid-in capital	132,743	900,672	1,066,860
Accumulated other comprehensive income	1,761	11,950	16,507
Accumulated deficit	(24,023)	(162,998)	(225,431)
TOTAL HERE GROUP LIMITED SHAREHOLDERS’ EQUITY	92,662	628,719	808,997
Non-controlling interests			82,967
TOTAL SHAREHOLDERS’ EQUITY	92,662	628,719	891,964
TOTAL LIABILITIES, MEZZANINE EQUITY, AND SHAREHOLDERS’ EQUITY	167,548	1,136,833	1,661,519
Class A Ordinary Shares
SHAREHOLDERS’ EQUITY
Ordinary shares, value	12	81	81
Class B Ordinary Shares
SHAREHOLDERS’ EQUITY
Ordinary shares, value	5	34	34
Related Party
Current assets:
Amounts due from related parties	3,866	26,231	1,577
Current liabilities:
Amounts due to related parties	$ 2,599	¥ 17,637	¥ 3,321

Noncontrolling Interests and Noncontrolling Interests with Liquidation Preferences

12 Months Ended

Jun. 30, 2026

Noncontrolling interests and noncontrolling interests with liquidation preferences

20.	Noncontrolling interests and noncontrolling interests with liquidation preferences

In connection with the Group’s acquisition of Shenzhen Letsvan (Note 3), there are certain non-controlling interest shareholders. Pursuant to the shareholder agreement, certain non-controlling shareholders of Shenzhen Letsvan held preferred shares that entitled these shareholders to certain preferences and privileges, such as liquidation preferences. The Group determined that the preferred shares should be accounted for as mezzanine equity on the Group’s consolidated balance sheets since they are contingently redeemable upon the occurrence of a conditional event or a deemed redemption event, which is not solely within the control of the Group. The other non-controlling interests with no preferential rights held by non-controlling interest shareholders are classified under equity in the Group’s consolidated balance sheets. All the non-controlling interests were initially recorded at the acquisition date fair value and subsequently adjusted by the attribution of their shares of net income or loss pursuant to the shareholder agreement.

In June 2025, the Group, through one of its wholly-owned subsidiaries, further acquired approximately 2.5% equity interests in Shenzhen Letsvan from Shenzhen Letsvan’s non-controlling shareholders for a total cash consideration of RMB9.8 million. The acquisition was accounted for as an equity transaction as this is a transaction among the shareholders, whereby (a) the difference between the fair value of non-controlling interests acquired and the carrying amount of non-controlling interests was allocated to additional paid-in capital, and (b) the difference of the consideration paid to the non-controlling shareholders over the fair value of the equity interests acquired, of RMB1,208, was accounted as compensation expense (Note 21(b)).

In July 2025, the Group, through one of its wholly-owned subsidiaries, further entered into a series of agreements to acquire all of the remaining non-controlling interests of Shenzhen Letsvan from the minority shareholders with a fixed amount of cash or a fixed number of the Company’s ordinary shares as consideration.

Transactions with non-controlling shareholders other than Mr. Huiyu Zhan, or Mr. Zhan, the founder of Shenzhen Letsvan, were settled with cash consideration, amounting to RMB128.1 million, and the closing has been completed. The acquisitions with non-controlling shareholders other than Mr. Huiyu Zhan, was accounted for as an equity transaction as this is a transaction among the shareholders, whereby the difference of the consideration paid to the non-controlling shareholders, which approximated to the fair value of the non-controlling interests acquired, over the carrying amount of non-controlling interests or mezzanine equity is allocated to additional paid-in capital for RMB80.5 million.

Transaction with Mr. Zhan was agreed to be settled with an aggregate of 18,219,330 the Company’s own class A ordinary shares, of which 7,287,732 restricted shares are subject to service conditions and are accounted for as share-based compensation under ASC 718, Compensation—Stock Compensation (Note 21(c)). As of June 30, 2026, the acquisition of the non-controlling interest held Mr. Zhan was not closed. The Group classified the non-controlling interests of Shenzhen Letsvan held by Mr. Zhan as mezzanine equity considering there is a contingent forward embedded in the non-controlling interests. Mezzanine equity should be recognized using the fair value of ordinary shares to be issued at agreement signing date, whereby the difference between mezzanine equity, which approximated to the fair value of non-controlling interests at agreement signing date, and carrying amount of non-controlling interests, amounting to RMB144.1 million, should be recorded as additional paid-in capital.

Taxation

12 Months Ended

Jun. 30, 2026

Taxation [Abstract]

Taxation

18.

Taxation

Cayman Islands

Under the current laws of the Cayman Islands, the Group is not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed.

British Virgin Islands (“BVI”)

Subsidiaries in the BVI are exempted from income tax on its foreign-derived income in the BVI. There are no withholding taxes in the BVI.

Hong Kong

When the two-tiered profits tax regime took effect on April 1, 2018, the applicable Hong Kong profits tax rate is 8.25% for assessable profits on the first HK$2,000 and 16.5% for any assessable profits in excess of HK$2,000. During the years ended June 30, 2023, 2024 and 2025, Hong Kong profits tax was not provided as there were no taxable profits deriving from Hong Kong.

PRC

Under the PRC Enterprise Income Tax Law (“EIT Law”), the statutory income tax rate is 25%. Entities qualifying as High and New Technology Enterprises (“HNTE”) qualify for a preferential tax rate of 15% subject to a requirement that they re-apply for HNTE status every three years. The WFOE qualified as a HNTE in the calendar year 2022 and is eligible for a preferential enterprise income tax rate of 15% as a “high and new technology enterprise” under the EIT Law from the period of 2022 to 2025. In October 2025, the WFOE successfully renewed its HNTE certification for a further three-year period and maintained the 15% preferential tax rate for the calendar year ended December 31, 2025. Following the disposal of the Divested Business (Note 4), the Group determined that it is no longer likely to meet the criteria for the preferential tax rate. Accordingly, effective January 1, 2026, the Group has accrued income tax using the statutory tax rate of 25%.

The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose “de facto management body” is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the “de facto management body” as “the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, property, of a non-PRC company is located”. Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its operations outside of the PRC be considered a resident enterprise for PRC tax purposes. However, due to limited guidance and implementation history of the EIT Law, should the Company be treated as a resident enterprise for PRC tax purposes, the Company will be subject to PRC income tax on worldwide income at a uniform tax rate of 25%.

Withholding tax on undistributed earnings

The EIT law also imposes a withholding income tax of 10% on dividends distributed by a foreign investment enterprise (“FIE”) to its immediate holding company outside the PRC, if such immediate holding company is considered as a non-resident enterprise without any establishment or place within the PRC or if the received dividends have no connection with the establishment or place of such immediate holding company within the PRC, unless such immediate holding company’s jurisdiction of incorporation has a tax treaty with the PRC that provides for a different withholding arrangement. The Cayman Islands, where the Company is incorporated, does not have such tax treaty with the PRC. According to the arrangement between Mainland China and Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion (“HK DTA”) in August 2006, dividends paid by an FIE in the PRC to its immediate holding company in Hong Kong will be subject to withholding tax at a rate of no more than 5%. To the extent that subsidiaries and the consolidated VIE (including its subsidiaries) of the Group have undistributed earnings, the Group accrues appropriate expected withholding tax associated with repatriation of such undistributed earnings.

During the year ended June 30, 2024 and 2025, one of the Group’s WFOE, an onshore subsidiary of the Group, distributed a portion of its retained earnings of approximate US$5,263 and US$10,000 to its immediate holding company, Witty Digital Technology Limited, an offshore subsidiary of the Company in Hong Kong, respectively. As of June 30, 2024, the Group had applied withholding tax rate of 5% based on the facts and circumstances of the offshore subsidiary and management’s interpretation of the HK DTA back then. During the year ended June 30, 2025, as there were new changes in relevant facts and circumstances, the Group accrued withholding tax on undistributed earnings as of June 30, 2025 using a 10% tax rate to reflect the management’ estimation accordingly. And the Group continued to apply 10% tax rate to accrue withholding tax on undistributed earnings going forward.

The following table sets forth the component of income tax (expenses)/benefit of the Group for the years ended June 30, 2024, 2025 and 2026:

	For the years ended June 30, 2026
	Mainland China			Hongkong			Others			Total
	RMB			RMB			RMB			RMB

Loss before income tax benefits		(219,032	)		(7,231	)		(40,136	)		(266,399	)
Current tax benefits		121			-			(72	)		49
Deferred tax expenses		11,415			-			-			11,415
Income tax benefits		11,536			-			(72	)		11,464

	For the years ended June 30, 2025
	Mainland China			Hongkong		Others			Total
	RMB			RMB		RMB			RMB

Loss before income tax expense		(17,917	)		1,712		(2,251	)		(18,456	)
Current tax expenses		(3,596	)		-		-			(3,596	)
Deferred tax expenses		246			-		-			246
Income tax expenses		(3,350	)		-		-			(3,350	)

For the years ended June 30, 2024

Mainland China

Hongkong

Others

Total

RMB

Loss before income tax expense

Current tax expenses

Deferred tax expenses

Income tax expenses

The following table sets forth reconciliation between the PRC statutory EIT rate and the effective tax rates for years prior to the adoption of ASU 2023-09:

	For the years ended June 30,
	2024			2025

Statutory income tax rate in PRC		25.0	%		25.0	%
Effect of income tax exemptions and preferential tax rates		-			-11.8	%
Effect of income tax rate difference in other jurisdictions		-			9.4	%
Effect of PRC withholding tax		-			0.0	%
Permanent differences		-			-16.9	%
Changes in valuation allowance		-			-23.9	%
Effective tax rate		-			-18.2	%

	For the years ended June 30, 2026
	RMB			Percentage

Chinese mainland statutory income tax benefits		66,600			25.0	%
Other jurisdictions’ tax effects
Hong Kong		1,434			0.5	%
Cayman
Effect on tax rates in different tax jurisdictions		(9,983	)		-3.7	%
Other jurisdictions		(24	)		0.0	%
Changes in valuation allowance		(24,741	)		-9.3	%
Non-taxable or non-deductible items
Preferential tax rates and tax holiday		242			0.1	%
R&D Super deduction		6,161			2.3	%
Impairment loss on goodwill		(31,015	)		-11.6	%
Others		(1,428	)		-0.5	%
Other adjustments
Effect of PRC withholding tax		4,218			1.6	%
Effective tax rates		11,464			4.3	%

For the year ended June 30, 2026, income taxes paid amounted to RMB48.3 million in Chinese mainland, and RMB0.1 million in jurisdictions outside Chinese mainland.

Deferred tax assets and liabilities

	As of June 30,
	2025			2026
	RMB			RMB

Deferred tax assets:
Allowances of credit losses		-			350
Allowance for inventory valuation allowance		-			361
Operating lease liabilities		1,509			6,227
Accrued liability		-			144
Deductible temporary difference related to advertising expenses		-			269
Net operating tax losses carried forward		783			21,645
Subtotal		2,292			28,996
Less: valuation allowance		(465	)		(12,760	)
Total deferred tax assets, net		1,827			16,236

	As of June 30,
	2025		2026
	RMB		RMB

Deferred tax liabilities:
Receivables of consideration for Divested Business		-		28,774
Operating lease right-of-use assets		1,694		6,394
Newly identified intangible assets arising from business combination		16,259		13,442
Unrealized investment income		297		(222	)
Withholding tax on undistributed earnings		55,591		86,478
Total deferred tax liabilities		73,841		134,866

The tax losses of the Group expire over different time intervals depending on the local jurisdiction. According to PRC tax regulations, the PRC enterprise net operating loss can generally carry forward for no longer than five years, starting from the year subsequent to the year in which the loss was incurred. As of June 30, 2026, certain entities of the Group had net operating tax losses carried forward, which if not utilized, will expire as follows:

	2026
	RMB

Loss expiring for the year ended December 31, 2026		-
Loss expiring for the year ended December 31, 2027		-
Loss expiring for the year ended December 31, 2028		-
Loss expiring for the year ended December 31, 2029		79
Loss expiring for the year ended December 31, 2030		14,795
Loss expiring for the year ended December 31, 2031		73,515
Subtotal		88,389

A valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group evaluates a variety of factors including the Group’s operating history, accumulated equity, existence of taxable temporary differences and reversal periods.

Changes in valuation allowance are as follows:

	For the years ended June 30,
	2024		2025			2026
	RMB		RMB			RMB

Balance at beginning of the year		-		-			(465	)
Addition		-		(465	)		(12,295	)
Balance at end of the year		-		(465	)		(12,760	)

The major jurisdiction in which the Group is subject to potential examination is the PRC. In general, the PRC tax authorities have up to five years and in certain cases up to ten years to conduct examinations of the tax filings of the Group. All these related tax years remain subject to examination by the PRC tax authorities potentially.

The entire disclosure for income tax.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

Revenues (including revenue from related parties of nil, RMB1,503 and RMB 29,293 for the years ended June 30, 2024, 2025 and 2026, respectively)

Intangible assets, net

12 Months Ended

Jun. 30, 2026

Intangible Assets, Net [Abstract]

Intangible assets, net

10.

Intangible assets, net

Intangible assets, net, as of June 30, 2025 and 2026, consist of the following:

	As of June 30,
	2025			2026
	RMB			RMB

IP Rights		49,914			50,230
Channel relationship		19,000			19,000
Brand		-			6,311
Software		65			-
Total		68,979			75,541
Less: accumulated amortization		(3,041	)		(14,316	)
Intangible assets, net		65,938			61,225

Except for Brand, which is intangible assets with indefinite useful life, other intangible assets are subject to amortization. Amortization expenses for intangible assets were nil, RMB3,017 and RMB11,861 for the years ended June 30, 2024, 2025 and 2026, respectively.

IP Rights and channel relationships acquired through business combination of Shenzhen Letsvan for RMB49,000 and RMB19,000 respectively are being amortized using an accelerated amortization method based on the expected economic benefits over the estimated life which range from 3 to 10 years.

Others, Net

12 Months Ended

Jun. 30, 2026

Others, Net [Abstract]

Others, net

19.

Others, net

	For the years ended June 30,
	2024		2025			2026
	RMB		RMB			RMB

Government grants		-		-			3,047
Fair value changes and investment gain of short-term investments		-		4,714			7,223
Share of net income/(loss) of investments accounted for using equity method		-		1,165			(3,529	)
Net gains relating to transition services provided to the Divested Business		-		-			7,801
Others		-		(151	)		2,106
Total		-		5,728			16,648

Taxation - Schedule of Operating Tax Losses Carried Forward (Details) ¥ in Thousands	Jun. 30, 2026 CNY (¥)
Schedule of Operating Tax Losses Carried Forward [Line Items]
Loss expiring for the year ended	¥ 88,389
Loss expiring for the year ended December 31, 2026 [Member]
Schedule of Operating Tax Losses Carried Forward [Line Items]
Loss expiring for the year ended
Loss expiring for the year ended December 31, 2027 [Member]
Schedule of Operating Tax Losses Carried Forward [Line Items]
Loss expiring for the year ended
Loss expiring for the year ended December 31, 2028 [Member]
Schedule of Operating Tax Losses Carried Forward [Line Items]
Loss expiring for the year ended
Loss expiring for the year ended December 31, 2029 [Member]
Schedule of Operating Tax Losses Carried Forward [Line Items]
Loss expiring for the year ended	79
Loss expiring for the year ended December 31, 2030 [Member]
Schedule of Operating Tax Losses Carried Forward [Line Items]
Loss expiring for the year ended	14,795
Loss expiring for the year ended December 31, 2031 [Member]
Schedule of Operating Tax Losses Carried Forward [Line Items]
Loss expiring for the year ended	¥ 73,515

Consolidated Statements of Operations and Comprehensive Income
¥ in Thousands, $ in Thousands

12 Months Ended

Jun. 30, 2026

USD ($)

$ / shares

Jun. 30, 2026

CNY (¥)

¥ / shares

Jun. 30, 2025

CNY (¥)

¥ / shares

Jun. 30, 2024

CNY (¥)

¥ / shares

Income Statement [Abstract]

$ 87,957

¥ 596,798

¥ 65,781

Cost of revenues (including cost of revenues from related parties of nil, nil and RMB10,402 for the years ended June 30, 2024, 2025 and 2026, respectively)

(58,886)

(399,547)

(42,970)

Gross profit

29,071

197,251

22,811

Operating expenses:

Sales and marketing expenses (including sales and marketing expenses from related parties of nil, RMB2,472 and RMB9,403 for the years ended June 30, 2024, 2025 and 2026, respectively)

(28,649)

(194,383)

(19,108)

Research and development expenses

(6,525)

(44,274)

(9,010)

General and administrative expenses

(19,001)

(128,925)

(19,673)

Impairment loss on goodwill

(18,284)

(124,059)

Total operating expenses

(72,459)

(491,641)

(47,791)

Loss from operations

(43,388)

(294,390)

(24,980)

Other income:

Interest income

1,672

11,343

796

Others, net

2,454

16,648

5,728

Loss before income tax expense

(39,262)

(266,399)

(18,456)

Income tax (expense)/benefit

1,690

11,464

(3,350)

Net loss from continuing operations, net of income tax

(37,572)

(254,935)

(21,806)

Net income from discontinued operation, net of income tax (including gain on disposal of nil, nil and RMB284,737 for the years ended June 30, 2024, 2025 and 2026, respectively)

46,934

318,451

378,374

385,527

Net income

9,362

63,516

356,568

385,527

Net loss/(income) attributable to non-controlling interests

(160)

(1,083)

2,162

Net income attributable to ordinary shareholders of Here Group Limited

9,202

62,433

358,730

385,527

Including：

Net loss from continuing operations attributable to ordinary shareholders of the Company

(37,730)

(256,006)

(19,641)

Net income from discontinued operation attributable to ordinary shareholders of the Company

$ 46,932

¥ 318,439

¥ 378,371

¥ 385,527

Weighted average number of ordinary shares used in computing net (loss)/income per share

^[1]

161,393,281

161,291,663

164,998,649

Net loss from continuing operations per share attributable to ordinary shareholders of the Company—basic | (per share)

^[1]

161,393,281

161,291,663

164,998,649

$ (0.23)

¥ (1.59)

¥ (0.12)

Net income from discontinued operations per share attributable to ordinary shareholders of the Company —basic | (per share)

0.29

1.97

2.35

2.34

Net loss from continuing operations per share attributable to ordinary shareholders of the Company—diluted | (per share)

(0.23)

(1.59)

(0.12)

Net income from discontinued operations per share attributable to ordinary shareholders of the Company—diluted | (per share)

$ 0.29

¥ 1.97

¥ 2.35

¥ 2.34

Comprehensive income:

Net income

$ 9,362

¥ 63,516

¥ 356,568

¥ 385,527

Other comprehensive loss

Foreign currency translation adjustments, net of nil tax

(672)

(4,557)

(806)

(4,869)

Total other comprehensive loss

(672)

(4,557)

(806)

(4,869)

Total comprehensive income

8,690

58,959

355,762

380,658

Comprehensive loss/(income) attributable to non-controlling interests

(160)

(1,083)

2,162

Comprehensive income attributable to Here Group Limited

$ 8,530

¥ 57,876

¥ 357,924

¥ 380,658

[1]	Basic and diluted net income/(loss) per share are computed using the weighted average number of ordinary shares outstanding during the period, including 3,092,516, 810,696 and 60,009 vested options with nominal exercise price for the years ended June 30, 2024, 2025 and 2026.

Prepayments and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details)
¥ in Thousands, $ in Thousands

Jun. 30, 2026

USD ($)

Jun. 30, 2026

CNY (¥)

Jun. 30, 2025

CNY (¥)

Schedule of Prepaid Expenses and Other Current Assets [Abstract]

Consideration receivable for the disposal of Divested Business

¥ 77,407

Receivables from third party payment platforms

^[1]

8,382

5,536

Receivables from e-commerce platforms

^[2]

9,423

4,688

Prepaid service fees

10,102

4,066

Receivables from financial institutions security account

^[3]

5,030

19,849

Deposits

2,260

9,994

Receivables from ESOP platform for share option exercise Proceeds (on behalf of employees)

193

18,145

Prepayments for products procurement

265

4,954

Others

10,956

6,202

Total

$ 18,277

¥ 124,018

¥ 73,434

[1]	Receivables from third-party payment platforms represent the considerations received and held by the third-party payment platforms. The Group subsequently transferred the full receivables from the third-party payment platforms to its bank accounts.
[2]	Receivables from e-commerce platforms represent the considerations for pop toy products sold on e-commerce platforms that have been delivered to the end customers but not yet settled by the e-commerce platforms.
[3]	Receivables from financial institutions security account consists of deposit in financial institutions security account for share repurchase purposes.

Lease - Schedule of Operating Leases Related Assets and Lease Liability (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)
Schedule of Operating Leases Related Assets and Lease Liability [Abstract]
Operating lease right-of-use assets, net		¥ 12,504		$ 5,223	¥ 35,438
Operating lease liabilities-current		9,482		2,731	18,532
Operating lease liabilities-non-current		4,617		$ 2,395	¥ 16,248
Operating lease expenses	¥ 14,272	1,202
Short-term lease expenses	4,490	106
Cash paid for amounts included in the measurement of operating lease liabilities	18,919	5,964
Right-of-use assets obtained in exchange for operating lease obligations	¥ 42,854	¥ 2,193
Weighted average remaining lease term (in years)		11 months 15 days		2 years 10 days	2 years 10 days
Weighted average discount rate		4.52%		3.25%	3.25%

Related Party Transactions

12 Months Ended

Jun. 30, 2026

Related party transactions

25.

Related party transactions

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control. Related parties may be individuals or corporate entities.

During the years ended June 30, 2024, 2025 and 2026, other than disclosed elsewhere, the Group had the following material related party transactions.

Name of related parties		Relationship with the Group

Mr. Huiyu Zhan		The Founder of Shenzhen Letsvan
Yuhuatongxing (Beijing) Cultural Development Co., Ltd. (“Yuhuatongxing”)		Entity significantly influenced by the Group
Nanjing Shangdehehua Equity Investment Partnership (Limited Partnership) (“Nanjing Shangde Hehua”)		Entity significantly influenced by the Group

(a)	The related party transactions entered into during the years ended June 30. 2024, 2025 and 2026 were as follows:

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Revenue from a related party ⁽¹⁾
Sales of pop toy products		-		1,503		26,975
Others		-		-		2,318
Total		-		1,503		29,293

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Services received from a related party ⁽¹⁾
IP license fee included in cost of revenues		-		-		10,402
Promotion service fee included in sales and marketing expenses		-		2,472		9,403

	For the years ended June 30,
	2024		2025		2026
	RMB		RMB		RMB

Other transactions
Payment for acquisition of non-controlling interests in Shenzhen Letsvan ⁽²⁾		-		2,800		45,200
Lending to Mr. Zhan ⁽³⁾		-		-		17,290
Nanjing Shangde Hehua⁽⁴⁾		-		-		7,252
Capital contribution of non-controlling interest from a related party		-		513		-
Lending to an equity investee of the Group		-		113		-

(b)

The outstanding balance due from/to related parties as of June 30, 2025 and 2026 were as follows:

	As of June 30,
	2025		2026
	RMB		RMB

Due from related parties
Mr. Zhan ⁽³⁾		-		17,190
Due from Yuhuatongxing ⁽¹⁾		1,440		8,933
Due from an equity investee of the Group		137		108
Total		1,577		26,231

	As of June 30,
	2025		2026
	RMB		RMB

Due to related parties
Due to Yuhuatongxing ⁽¹⁾		2,621		17,637
Due to a non-controlling shareholder ⁽²⁾		700		-
Total		3,321		17,637

Note:

(1)

Yuhuatongxing acts as an authorized distributor of the Group and pays the Group for the pop toy products purchased.

Yuhuatongxing receives service fees from the Group for the provision of promotion services.

(2)

(3)

(4)

(c)

Loans guaranteed by a related party as of June 30, 2025 and 2026 were as follows:

	As of June 30,
	2025		2026
	RMB		RMB

Due from other related parties		5,100		-

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Cash and cash equivalents

Discontinued Operations - Schedule of Consolidated Balance Sheet and Operations and Comprehensive Income and Cash Flow (Details)
¥ in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Sep. 30, 2025

CNY (¥)

Jun. 30, 2026

USD ($)

Jun. 30, 2026

CNY (¥)

Jun. 30, 2025

CNY (¥)

Jun. 30, 2024

CNY (¥)

Jun. 30, 2026

CNY (¥)

Current assets:

¥ 357,216

Restricted cash

308

Prepayments and other current assets

49,707

Accounts receivable, net

16,388

Inventories, net

5,232

129,465

Total current assets

558,316

Non-current assets:

Property and equipment, net

1,357

Long-term investments

30,812

Operating lease right-of-use assets

7,394

Other non-current assets

3,501

Total non-current assets

43,064

Current liabilities:

Accounts payable

34,373

Accrued expenses and other current liabilities

85,638

Income tax payable

22,000

Contract liabilities, current portion

236,425

Advance from customers

113,134

Operating lease liabilities, current

6,946

Total current liabilities

498,516

Non-current liabilities:

Contract liabilities, non-current portion

35,485

Operating lease liabilities, non-current

2,399

Deferred tax liabilities

Total non-current liabilities

37,912

Revenues

¥ 403,422

2,659,811

¥ 3,795,331

Cost of revenues

(77,452)

(460,763)

(550,310)

Gross profit

325,970

2,199,048

3,245,021

Operating Expenses [Abstract]

Sales and marketing expenses

(182,302)

(1,592,153)

(2,586,977)

Research and development expenses

(4,376)

(89,515)

(144,868)

General and administrative expenses

(5,922)

(95,499)

(125,765)

Impairment loss on long-lived assets

(2,652)

Impairment loss on goodwill

(7,389)

Total operating expenses

(192,600)

(1,777,167)

(2,867,651)

Income from operations

133,370

421,881

377,370

Other income:

Interest income

4,203

10,520

Remeasurement Gain of Previously held Equity Interests in Connection with Step Acquisition

8,109

Others, net

3,562

53,750

28,965

Pretax income from discontinued operation related to major classes of pretax profit

137,009

487,943

416,855

Pretax gain on disposal of discontinued operation

^[1]

284,737

Total pretax gain on discontinued operation

421,746

487,943

416,855

Income tax expense

(103,295)

(109,569)

(31,328)

Net income from discontinued operation, net of tax

318,451

46,934

¥ 318,451

378,374

385,527

Cash Provided by (Used in) Operating Activity, Discontinued Operation

83,706

12,337

83,706

442,748

282,720

Cash Provided by (Used in) Investing Activity, Discontinued Operation

(64,183)

(9,459)

(64,183)

80,465

(132,784)

Cash Provided by (Used in) Financing Activity, Discontinued Operation

¥ (80,053)

¥ (130,192)

[1]

Share Based Compensation Expenses (Tables)

12 Months Ended

Jun. 30, 2026

Share Based Compensation Expenses [Abstract]

Schedule of Share Based Compensation Expenses

Compensation expenses from continuing operations recognized for share-based compensation awards granted by the Company were as follows:

	For the years ended June 30,
	2024		2025			2026
	RMB		RMB			RMB

Included in:
Cost of revenues		-		(11	)		195
Sales and marketing expenses		-		98			655
Research and development expenses		-		77			248
General and administrative expenses		-		2,349			35,865
Total		-		2,513			36,963
(a) Share options		-		1,305			6,099
(b) Acquisition of equity interests from non-controlling shareholders		-		1,208			-
(c) Restricted shares issued to the Founder of Shenzhen Letsvan		-		-			30,864
Total		-		2,513			36,963

Schedule of Activities of Share Options

A summary of activities of share options of the Company for the years ended June 30, 2024, 2025 and 2026 is presented below:

	Options Outstanding			Weighted Average Exercise Price (US$)		Weighted Average Remaining Contractual Life (In years)		Aggregate Intrinsic Value (RMB)

Outstanding as of July 1, 2023		18,225,251			0.1831		9.01		346,378
Granted		4,217,652			0.4066
Exercised		(1,852,806	)		0.2261
Forfeited		(2,807,954	)		0.2507
Expired		(120,003	)		0.7162
Outstanding as of June 30, 2024		17,662,140			0.2176		8.37		44,127
Options vested and exercisable as of June 30,2024		11,871,925			0.1573		8.01		34,836

Outstanding as of July 1, 2024		17,662,140			0.2176		8.37		44,127
Granted		680,000			0.4000
Exercised		(11,365,500	)		0.1402
Forfeited		(940,214	)		0.4594
Expired		(137,361	)		0.7030
Outstanding as of June 30, 2025		5,899,065			0.3380		8.13		118,750
Options vested and exercisable as of June 30,2025		2,505,209			0.3486		7.63		50,239

Outstanding as of July 1, 2025		5,899,065			0.3380		8.13		118,750
Granted		1,149,000			1.5894
Exercised		(482,961	)		0.4726
Forfeited		(610,254	)		0.5749
Expired		(17,681	)		0.5143
Outstanding as of June 30, 2026		5,937,169			0.5443		7.56		11,490
Options vested and exercisable as of June 30,2026		4,027,490			0.3077		6.96		9,617

Schedule of Estimated Fair Value of Each Option Grant

The estimated fair value of each option grant is estimated on the date of grant using the Binomial option-pricing model with the following assumptions:

	For the years ended June 30,
	2024			2025			2026

Expected volatility		81.85%-83.12	%		90.10%-91.20	%		59.30%-61.30	%
Risk-free interest rate (per annum)		3.84%-4.27	%		3.70%-4.30	%		4.20%-4.40	%
Expected dividend yield		0.00	%		0.00	%		0.00	%
Expected term (in years)		10			10			10
Fair value of the underlying shares on the date of option grants (US$)		0.53-1.20			0.38-0.80			0.71-3.01

Net Income/(Loss) Per Share - Schedule of Basic and Diluted Net Income/(Loss) Per Share (Details)
¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Sep. 30, 2025

CNY (¥)

Jun. 30, 2026

USD ($)

$ / shares

Jun. 30, 2026

CNY (¥)

¥ / shares

Jun. 30, 2025

CNY (¥)

¥ / shares

Jun. 30, 2024

CNY (¥)

¥ / shares

Numerator:

Net income for discontinued operation

¥ 318,451

$ 46,934

¥ 318,451

¥ 378,374

¥ 385,527

Net income attributable to noncontrolling interests | ¥

(12)

(3)

Net income from discontinued operation attributable to ordinary shareholders of Here Group Limited

$ 46,932

¥ 318,439

¥ 378,371

¥ 385,527

^[1]

161,393,281

161,291,663

164,998,649

^[1]

161,393,281

161,291,663

164,998,649

^[1]

161,393,281

161,291,663

164,998,649

Net income from discontinued operation per ordinary share attributable to ordinary shareholders of Here Group Limited

^[1]

161,393,281

161,291,663

164,998,649

— basic (In Shares) | (per share)

$ 0.29

¥ 1.97

¥ 2.35

¥ 2.34

— diluted (in Shares) | (per share)

$ 0.29

¥ 1.97

¥ 2.35

¥ 2.34

Numerator:

Net loss for continuing operations

$ (37,572)

¥ (254,935)

¥ (21,806)

Net loss/(income) attributable to noncontrolling interests | ¥

(1,071)

2,165

Net loss from continuing operations attributable to ordinary shareholders of the Company

$ (37,730)

¥ (256,006)

¥ (19,641)

Weighted average number of ordinary shares outstanding (i)

^[1]

161,393,281

161,291,663

164,998,649

^[1]

161,393,281

161,291,663

164,998,649

^[1]

161,393,281

161,291,663

164,998,649

Net loss from continuing operations per ordinary share attributable to ordinary shareholders of Here Group Limited

^[1]

161,393,281

161,291,663

164,998,649

— basic (in Shares) | (per share)

$ (0.23)

¥ (1.59)

¥ (0.12)

— diluted (in Shares) | (per share)

$ (0.23)

¥ (1.59)

¥ (0.12)

[1]	Basic and diluted net income/(loss) per share are computed using the weighted average number of ordinary shares outstanding during the period, including 3,092,516, 810,696 and 60,009 vested options with nominal exercise price for the years ended June 30, 2024, 2025 and 2026.

Business Combination - Schedule of Purchase Price (Details) - Shenzhen Letsvan [Member] ¥ in Thousands	12 Months Ended
	Jun. 30, 2025 CNY (¥)
Schedule of Purchase Price [Line Items]
Cash and cash equivalents	¥ 93,450
Short-term investments	20,000
Accounts receivable, net	23,100
Other current assets	24,968
Property and equipment, net	7,488
Goodwill	187,598
Other non-current assets	7,423
Short-term borrowings	(14,500)
Other current liabilities	(22,223)
Other non-current liabilities	(1,155)
Deferred tax liabilities	(17,000)
Non-controlling interests-equity	(93,041)
Non-controlling interests- mezzanine equity	(40,999)
Total purchase consideration	243,109
Total purchase price is comprised of:
-Cash	200,000
-Fair value of previously held equity interests	43,109
Total	243,109
IP Rights [Member]
Schedule of Purchase Price [Line Items]
Newly identified intangible assets	49,000
Channel relationship [Member]
Schedule of Purchase Price [Line Items]
Newly identified intangible assets	¥ 19,000

Related Party Transactions - Schedule of Loans Guaranteed by Related Party (Details) - CNY (¥) ¥ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Other related parties [Member]
Schedule of Loans Guaranteed by Related Party [Line Items]
Due from other related parties		¥ 5,100

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Short-Term Investments - Schedule of the Fair Value Hierarchy for the Group’s Short-Term Investments (Details) - Recurring [Member] - CNY (¥)
¥ in Thousands

Jun. 30, 2026

Jun. 30, 2025

Assets

Wealth management products [Member]

¥ 178,223

¥ 139,990

Assets

Equity securities of publicly listed companies [Member]

^[1]

170,143

131,502

Assets

Quoted Prices in Active Market for Identical Assets (Level 1) [Member]

8,080

8,488

Assets

Quoted Prices in Active Market for Identical Assets (Level 1) [Member] | Wealth management products [Member]

8,080

8,488

Assets

Quoted Prices in Active Market for Identical Assets (Level 1) [Member] | Equity securities of publicly listed companies [Member]

^[1]

Assets

Significant Other Observable Inputs (Level 2) [Member]

8,080

8,488

Assets

Significant Other Observable Inputs (Level 2) [Member] | Wealth management products [Member]

170,143

131,502

Assets

Significant Other Observable Inputs (Level 2) [Member] | Equity securities of publicly listed companies [Member]

^[1]

170,143

131,502

Assets

Significant Other Unobservable Inputs (Level 3) [Member]

Assets

Significant Other Unobservable Inputs (Level 3) [Member] | Wealth management products [Member]

Assets

Significant Other Unobservable Inputs (Level 3) [Member] | Equity securities of publicly listed companies [Member]

^[1]

Assets

[1]

Share Based Compensation Expenses (Details) ¥ in Thousands		1 Months Ended	12 Months Ended
Share Based Compensation Expenses (Details) ¥ in Thousands	Dec. 20, 2022 shares	Jul. 31, 2025 shares	Jun. 30, 2026 CNY (¥) shares	Jun. 30, 2026 CNY (¥) $ / shares	Jun. 30, 2025 CNY (¥) shares	Jun. 30, 2025 CNY (¥) $ / shares	Jun. 30, 2024 CNY (¥) shares	Jun. 30, 2024 CNY (¥) $ / shares	May 31, 2022 shares
Share Based Compensation Expenses [Line Items]
Shares option granted \| shares			1,149,000		680,000		4,217,652
Weighted average grant date fair value (in Dollars per share) \| $ / shares				$ 0.93		$ 0.62		$ 0.39
Share based compensation expense (in Yuan Renminbi)			¥ 36,963		¥ 2,513
Unrecognized share-based compensation expenses (in Yuan Renminbi)			¥ 5,682	$ 5,682	¥ 14,939	$ 14,939	¥ 38,162	$ 38,162
Expected to be recognized over a weighted-average period			3 years 9 months 10 days		2 years 18 days		1 year 11 months 26 days
Installments Three [Member]
Share Based Compensation Expenses [Line Items]
Share based compensation options vested rate			33.00%
Installments Four [Member]
Share Based Compensation Expenses [Line Items]
Share based compensation options vested rate			25.00%
Installments Five [Member]
Share Based Compensation Expenses [Line Items]
Share based compensation options vested rate			20.00%
Predecessors [Member]
Share Based Compensation Expenses [Line Items]
Share based compensation expense (in Yuan Renminbi)			¥ 6,099		¥ 1,305
2021 Plan [Member]
Share Based Compensation Expenses [Line Items]
Minimum aggregate of issued shares \| shares									21,717,118
Addition number of ordinary shares \| shares	16,523,627
2018 WN Plan [Member]
Share Based Compensation Expenses [Line Items]
Share based compensation expense (in Yuan Renminbi)			3,537
Shenzhen Letsvan [Member]
Share Based Compensation Expenses [Line Items]
Share based compensation expense (in Yuan Renminbi)					¥ 1,208
Mr. Zhan [Member]
Share Based Compensation Expenses [Line Items]
Share based compensation expense (in Yuan Renminbi)			¥ 30,864
Restricted shares \| shares		7,287,732

Others, Net - Schedule of Others, Net (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2025 CNY (¥)	Jun. 30, 2024 CNY (¥)
Schedule of Others, Net [Abstract]
Government grants		¥ 3,047
Fair value changes and investment gain of short-term investments		7,223	4,714
Share of net income/(loss) of investments accounted for using equity method		(3,529)	1,165
Net gains relating to transition services provided to the Divested Business		7,801
Others		2,106	(151)
Total	$ 2,454	¥ 16,648	¥ 5,728

Related Party Transactions (Details) - CNY (¥) ¥ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Related Party Transactions [Line Items]
Cash Consideration received		¥ 7,252
Cash consideration for acquired	¥ 700	3,500
Cash consideration paid		44,500	¥ 2,800
Mr. Zhan [Member]
Related Party Transactions [Line Items]
Cash consideration for acquired		¥ 17,300
Beijing Shanronghaina Network Technology Co., Ltd. [Member]
Related Party Transactions [Line Items]
Equity interests		4.50%	0.88%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.